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need these solved please EX 1-7 Accounting equation Go44 is a motivational consulting business. At the end of its accounting period, December 31, 2015, Go44
need these solved please
EX 1-7 Accounting equation Go44 is a motivational consulting business. At the end of its accounting period, December 31, 2015, Go44 has assets of $720,000 and liabilities of $180,000. Using the accounting equation and considering each case independently, determine the following amounts: a. Stockholders' equity as of December 31, 2015 b. Stockholders' equity as of December 31, 2016, assuming that assets increased by $96,500 and liabilities increased by $30,000 during 2016. c. Stockholders' equity as of December 31, 2016, assuming that assets decreased by $168,000 and liabilities increased by $15,000 during 2016 d. Stockholders' equity as of December 31, 2016, assuming that assets increased by $175,000 and liabilities decreased by $18,000 during 2016. e. Net income (or net loss) during 2016, assuming that as of December 31, 2016, assets were $880,000, liabilities were $220,000, and no additional common stock was issued or dividends paid. EX 1-8 Asset, liability, and stockholders' equity items Indicate whether each of the following is identified with (1) an asset, (2) a liability, or 3) stockholders' equity: a. accounts payable b. cash c. fees earned d. land e. supplies f. wages expense OBJ. 3Step by Step Solution
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