 |
|
| Browse | Ask | Answer | Search | Join/Login |
|
|
||||
|
Assets and Liabilities
December 31
Total Assets Total Liabilities 2009 400,000 250,000 2010 460,000 300,000 2011 590,000 400,000 Lily Began business on Jan 1,2009 with an investment of 100,000 From the change of equity during the year compute the total net income (or loss) for the following situations A 2009 assuming lilys drawings were 15,000 for the year B 2010 assuming lily made an additional investment of 50,000 and had no drawings for 2010 C. 2011 assuming lily made an additional investment of 15,000 and had drawings of 30,000 in 2011 |
||||
Check out some similar questions!
I need to know if this is correct, if its not an explanation would be great :) I'm not an accounting student, just taking it for GE and I'm just confused.. Indicate where each tansaction causes an increase (+), decrease (-) or no change (NC) in assets, liabilities and equity (type of...
Current Assets and Current Liabilities? Are sales revenue and unearned revenue current liabilities? How about office supplies? Current asset?
Assets ASSETS LIABILITIES cash assets $10M Demand deposit $10M Short term investment 20M (D=0.25 years) ...
The question is What is the amount of equity on December 31 and what is the amount of liabilities on December 31 Diagram December 31 Assets... 58,000 Liabilites.. During the Year Owner investments... 6,000
Thanks in advance! What is the formula to determine the following: Assets decreased by $25,000 during the period. Liabilities increased by $15,000 during the period. Cash dividends declared during the period were $52,000. Expenses were $194,900. Revenue for the period was. ...
View more questions Search
| Question Tools | Search this Question |
Add your answer here.
|
