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John Joos is the owner and operator of Go-For-It LLC, a motivational consulting business. At the end of its accounting period, December 31, 2018, Go-For-It
John Joos is the owner and operator of Go-For-It LLC, a motivational consulting business. At the end of its accounting period, December 31, 2018, Go-For-It has assets of $839,000 and liabilities of $201,000. Using the accounting equation, determine the following amounts: a. Owner's equity as of December 31, 2018. $ b. Owner's equity as of December 31, 2019, assuming that assets increased by $159,000 and liabilities increased by $48,000 during 2019. $
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