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Shannon Cook is the owner and operator of Go-For-It LLC, a motivational consulting business. At the end of its accounting period, December 31, 20Y8, Go-For-It
Shannon Cook is the owner and operator of Go-For-It LLC, a motivational consulting business. At the end of its accounting period, December 31, 20Y8, Go-For-It has assets of $805,000 and liabilities of $193,000. Using the accounting equation, determine the following amounts: a. Owner's equity as of December 31, 20Y8. $fill in the blank 1 b. Owner's equity as of December 31, 20Y9, assuming that assets increased by $153,000 and liabilities increased by $46,000 during 20Y9.
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