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-   -   The owner made no investments or withdrawals during the year (https://www.askmehelpdesk.com/showthread.php?t=459056)

  • Mar 20, 2010, 09:28 AM
    sherrylburris
    The owner made no investments or withdrawals during the year
    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?
  • Mar 20, 2010, 05:44 PM
    ROLCAM
    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
    ======================
  • Mar 21, 2010, 01:20 AM
    morgaine300

    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.)

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