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View Full Version : How to figure out liabilities for accounting


gbilodeau25
Jun 3, 2012, 07:49 PM
How can I figure out Assets and Equity for 2012? This is the information I have.

December 31, 2011
Assets $53 500
Liabilities $13 250
Equity $40 250

December 31, 2012
Assets $
Liabilities $18 500
Equity $

During 2012
Owner Investments $3 250
Net Income $ 16 750
Owner Withdrawal $9 250

paraclete
Jun 3, 2012, 11:06 PM
How can I figure out Assets and Equity for 2012? This is the information I have.

December 31, 2011
Assets $53 500
Liabilities $13 250
Equity $40 250

December 31, 2012
Assets $
Liabilities $18 500
Equity $

During 2012
Owner Investments $3 250
Net Income $ 16 750
Owner Withdrawal $9 250

It is faily simple assets - liabi;ities = equity and you should be able to check the movement from the other data

This is basic accounting and you should not need to ask questions like this