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-   -   How to figure out liabilities for accounting (https://www.askmehelpdesk.com/showthread.php?t=666883)

  • Jun 3, 2012, 07:49 PM
    gbilodeau25
    How to figure out liabilities for accounting
    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
  • Jun 3, 2012, 11:06 PM
    paraclete
    Quote:
    Originally Posted by gbilodeau25 View Post
    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

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