Calculation of New Owner's Equity Using the Expanded Accounting Equation Professional Income Rent Expense Carolina Garbo, Drawing Taxes and Licenses Miscellaneous Income P 100,000 30,000 20,000 15,000 25,000 280,000 Carolina Garbo, Capital-Beginning Suggested format: Capital-Drawing + Revenue-Expense How much is the new Owner's Equity P 2-18 Determination of Basic Accounting Equation Flordeliz Rivera, Capital Accounts Receivable Cash In Bank P 240,000 80,000 230,000 50,000 10,000 30,000 Notes Payable Flordeliz Rivera, Drawing Accounts Payable Extract the basic accounting equation, A= L + OE