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Captivating Your Audience is a motivational consulting business owned and operated by Edith Kittrell. At the end of its accounting period, May 3 1 ,
Captivating Your Audience is a motivational consulting business owned and operated by Edith Kittrell. At the end of its accounting period, May Captivating has assets of $ and liabilities of $ Using the accounting equation and considering each case independently, determine the following amounts:
a Owner's equity as of May
$
b Owner's equity as of May Y assuming that assets increased by $ and liabilities increased by $ during
$
c Owner's equity as of May Y assuming that assets decreased by $ and liabilities increased by $ during
d Owner's equity as of May Y assuming that assets increased by $ and liabilities decreased by $ during
e Net income or net loss during Y assuming that as of May assets were $ liabilities were $ and the owner made no additional investment in the business or withdrew any cash for personal use.
$
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