View Full Version : The owner made no investments or withdrawals during the year
 
 sherrylburris
Mar 20, 2010, 09:28 AM
The owner made no investments or withdrawals during the year. Beginning of the year assets are $175,000 and liabilities are $68,750. End of year assets are $275,000 and liabilities are $162,500. The total assets and liabilities at the beginning and end of year are?
 ROLCAM
Mar 20, 2010, 05:44 PM
beginning:-
 
assets *****= 175,000
liabilities***=  68,750
---------------------------
net assets **= 106,250
==================
 
end of year 
--------------
 
assets *****= 275,000
liabilities***= 162,500
---------------------------
net assets **= 112,500
==================
 
end net assets = 112,500
begin net assets=106,250
------------------------------
increase in net assets= 6,250
======================
 morgaine300
Mar 21, 2010, 01:20 AM
Will you please just once let a student actually THINK about the problem.  Using the accounting equation it just isn't that difficult to figure out the beginning & ending capital balance, and the student should be able to do their own work if given a hint how to do it.  (This is why people have no brains - no one makes them use them.)