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Need help with Accounting Equation Katherine Brewer is the owner and operator of Our Idol LLC, a motivational consulting business. At the end of its
Need help with Accounting Equation
Katherine Brewer is the owner and operator of Our Idol LLC, a motivational consulting business. At the end of its accounting period, December 31, 2013, Our Idol has assets of $520,000 and liabilities of $125,000. Using the accounting equation, determine the following amounts: Owner's equity as of December 31, 2013. Owner's equity as of December 31, 2014, assuming that assets decreased by $99,000 and liabilities increased by $30,000 during 2014Step by Step Solution
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