Question
C. AT THE BEGINNING OF THE YEAR, KELLER CO. HAD LIABILITIES FOR $ 60,000. DURING THE YEAR THERE WAS AN INCREASE IN ASSETS OF $
C. AT THE BEGINNING OF THE YEAR, KELLER CO. HAD LIABILITIES FOR $ 60,000. DURING THE YEAR THERE WAS AN INCREASE IN ASSETS OF $ 80,000 AND AT THE END OF THE YEAR THE TOTAL OF ITS ASSETS IT WAS $ 180,000. DURING THE YEAR THEIR LIABILITIES DECREASED BY $ 10,000. DETERMINE THE AMOUNT OF EQUITY AT THE BEGINNING AND END OF THE YEAR.
D.USING THE FOLLOWING INFORMATION FROM COMEX CO. PREPARE STAMENT OF OWNERS EQUITY: C. TEX, CAPITAL, DEC 31, 2011 $ 47,000 C. TEX, WITHDRAWALS $ 8,000 C. TEX, CAPITAL, DIC. 31, 2010 49,000 NET INCOME 6,000
IDENTIFY THE FOLLOWING USERS AS INTERNAL OR EXTERNAL USERS (I) or ((E) ____ LENDERS ____ CONTROLLER ____ SHAREHOLDERS ____ SALES STAFF ____ FBI AND DEPT. OF FINANCE ____ CONSUMER GROUP ____ REAL ESTATE AGENT ____ SUPPLIERS ____ CUSTOMERS ____ MANAGERS ____BUSINESS PRESS ____ LAWYERS
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