Tot asset of 120000, liabilities 75000, owner equity of 45000. Business revenue 110000, paid expense of 36000, owner withdrew 63000. How much is the business equity @ year end
![]() |
Tot asset of 120000, liabilities 75000, owner equity of 45000. Business revenue 110000, paid expense of 36000, owner withdrew 63000. How much is the business equity @ year end
Subtract expenses from revenues, which equas net income.
Add net income to owners equity.
Subtract owner withdrawals from owners equity.
Subtract liabilities and owners equity from total assets.
All times are GMT -7. The time now is 04:57 PM. |