I am given assets: 36,000. Liability: ? Equity: ?

Also am given
Stock issuances.. 6000
Dividends... 3500
Net income... 7760

How am I suppose to set this up thanks.

First you need to find equity.
Stock plus Net Income minus Dividends equals Owners' Equity.

With Assets and Owners' Equity you can now get Liabilities.

Liabilities equals Assets minus Owners' Equity.

Thanks one more question how about this:

08:
Assets: 21,120
Liabilities: 11,404

09:
Assets: ?
Liability: 11,818

Stock insurances: 9750
Net income : -1289
Dividends: 5875

This is all related:

Assets = Liabilities + Equity (Equity = Stock + Net Income - Dividends)

Solve for 08 equity using the equation. Make the changes in equity using the bottom info to get the 09 number. Plug that into the equation to solve for asset.

You can solve any of these kinds of problems with this. The only difference between this and your first problem is that you will have a beginning balance in equity to add.

Can You Help Me With Please ? I Am New To Accounting.

Im Looking For How To Get The Liability.

Assets = 113000

Owner Investments = 6500
Net Income = 20000
Owner Cash Withdrawl = 11000

Can You Help Me Understand The Formula ? Please.

Thanks

You have the assets and the information needed to get the Onwers Equity.

Onwers Equity = Onwer Investments + Net Income - Owner Withdrawl's

Now you have assets and Equity, so you can figure out liabilities.

Liabilities = Assets - Owners Equity

Hi

Thanks For Trying To Help BUT It Still Doesn't Match What Is In The Textbook.. These Numbers Don't Add Up

In My Book..

Assets = 113,000
Liabilities = 70000

Owner Investments = 6500
NetIncome = 20000
Owner Withdrawals = 11000

I Didn't Tell You The Liabilities Before Because I Was Trying To See If Your Method Would Give Out The Liabilities That's In The Book

Doesn't The Numbers Have To Add Up ?

I Did 6500 + 20000 - 11000 = 15500

Liabilities = 113000 - 15500 = 97500.. Not Close To 70000

Also.. How Would You Figure Out Liabilites And Equity When You Only Have Assets ?

Thank You.

Assets = Liabilities + Owners Equity

Therefore Owners Equity = Assets - Liabilities

From your previous problem you did not include retained earnings which would account for the difference.

If you only have assets you will not be able to figure out liabilities and owners equity without additional information to compute either liabilities or owners equity.

How do I solve for: What is the amount of Liabilitiy?

As of Dec 31, 2011
Assets = 43,000
Liabilities = ?
During year 2011
Onwer Investments = 6,000
Net Income (loss) = 9650
Owner cash withdrawals = 3500

Owners Investments + Net Income - Owners Withdrawals = Equity

Assets - Equity = Liabilities

I was given a problem that only gives the owner's equity. It does not seem possible to answer because there is not enough information given.

This is the problem straight from the homework assignment can you answer it?

The liabilities of Maple Enterprises equal one-fifth of the total assets. The owner's equity is $40,000. What is the amount of the liabilities?

I still can't find the answer by using your method
December 31, 2010
Assets 37,000
Liabilities 30,340
December 31, 2011
Assets 40,000
Liabilities ?
During year 2011
Owner investments 6,000
Net income (loss) 8,840
Owner cash withdrawals 3,500

Step 1, Owners Equity at Dec 31, 2010 = Assets at Dec 31, 2010 - Liabilities at Dec 31,2 010

Step 2, Equity at Dec 31, 2011 = Equity at Dec 31, 2010 + Owner Investments during 2011 + Net Income for 2011 - Cash Withdrawals during 2011

Step 3, Liabilities at Dec 31, 2011 = Assets at Dec 31, 2011 - Equity at Dec 31, 2011

How do I solve for: What is the amount of Liabilitiy? Taking into considiration that the last part is from the following year.

As of Dec 31, 2010
Assets = 123,000
Liabilities = ?
During year 2011
Stock issuances = 4,500
Net Income (loss) = 18,000
cash withdrawals = 9,000

Thank you

Dec.31,2010
Assets 34000
Liabilities?

During the year 2011
Stock issuances 6000
Net income (loss) 7220
Cash & Dividend 3500

What is the amount of equity for Dec. 31, 2011?
What Is the amount of liabilities for Dec. 31, 2011?

Please help with a formula to solve this?

Look at the previous answers in this thread, as I have answered this already and I even provided the formulas.

Quote:

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Originally Posted by lin522

How do I solve for: What is the amount of Liabilitiy?

As of Dec 31, 2011
Assets = 43,000
Liabilities = ?
During year 2011
Onwer Investments = 6,000
Net Income (loss) = 9650
Owner cash withdrawals = 3500

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I have this same problem. I used the formula a million times and mcgraw is still telling me it wrong d oi d you ever figure it out

You will need the figures from 31 Dec 2010 to be able to work the problem.

I have a question to solve:

It gives me:

Initial situation: (01 Jan N)
Total Assets $90.000
Total Liabilities $50.000

Final Situation: (31 Dec N)
Total Assets $120.000
Total Liabilities (a)

During Year N:
Revenues $45.000
Expenditure $38.000

Calculate the value of the unknown variable (a) (show auxiliary
calculations to explain the underlying rational followed).

How would I go about doing this? Thank you kindly.

For Jan 1 you need to find Owners Equity. The formula is: Owners Equity = Assets - Liabilities

With the information provided you can now solve for Owners Equity at Dec 31. The formula based on what is provided is: Owners Equityat Dec 31 = Owners Equity Jan 1 + Revenues - Expenditures

Now you can solve for liabilities at Dec 31. The formula for this is: Liabilities at Dec 31 = Assets at Dec 31 - Owners Equity at Dec 31.