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-   -   Finding liabilities and owners equity (https://www.askmehelpdesk.com/showthread.php?t=733803)

  • Feb 12, 2013, 11:26 AM
    Pamps
    Finding liabilities and owners equity
    My textbook question begins with "Assuming no additional investments by or distributions to owners, compute the missing amounts for the 3 companies below

    It gives me 3 companies assets and liabilities and owners equity at the beginning of the year and once again at the end of the year. I have the revenues and expenses during the year.

    Assets Jan. 1: 360
    Liabilities Jan. 1: 280
    O.E. Jan.1 : 80

    Assets Dec. 31: 380
    Liabilities dec. 31: ?
    OE. Dec 31: ?

    Revenues: 80
    Expenses: 100

    How do I figure our those two blanks for this company over the course of one year?
  • Feb 14, 2013, 10:44 PM
    paraclete
    do you have a spreadsheet, if not simple mathematics and fill in the blanks; assets - liabilities = equity, revenue - expenses = profit. Equiity 1 + profit - dividends = equity 2.

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