Can someone help me: Please







a. Assets decreased by $20,500 during August.


August 1, 2011 Assets (?) Liability $21,000 Equity (?)


b. Liabilities increased by $10,100

August 31, 2011 Assets $36,000 Liability (?) Equity (?)

assets - liabilities = equity

Not really,

I still cannot seem to find the answer... I'm hoping someone can explain it in expanded form.

Thanks

You do not have enough information provided on 1 Aug to solve your problem. You need to know your assets or equity amount on 1 Aug to start this problem.

After looking at your questions again, you have an ending assets amount so simply add $20,500 to your ending assets amount to get your beginning assets amount.

For beginning equity simply subtract your beginning liabilities from your beginning asset amount to get your beginning Equity amount.

For ending Liabilities simply add $10,100 to your beginning Liabilities amount to get your ending Liabilities amount.

For ending equity simply subtract your ending Liabilities amount from your ending Assets amount to get your ending Equity amount.