Ask Experts Questions for FREE Help !
Ask
    cookk336's Avatar
    cookk336 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jun 1, 2012, 09:37 PM
    How do you find equity and liabilities with just assets
    How do you find Equity and Liabilities for Company A using this information?

    Assets- 45,000

    During year 2011
    Owner investments 6,000
    Net income (loss) 10,190
    Owner cash withdrawals
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
    Ultra Member
    		  
    #2

    Jun 2, 2012, 02:11 AM
    Quote Originally Posted by cookk336 View Post
    How do you find Equity and Liabilities for Company A using this information?

    Assets- 45,000

    During year 2011
    owner investments 6,000
    net income (loss) 10,190
    owner cash withdrawals
    it's not hard

    equity = 6000-10190 = -4190
    assets = 45000
    liabilities = 45000-4190

    you need to do more thinking and less asking
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Assets, Liabilities and equity [ 4 Answers ]

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...

Assets, Liabilities, Equity [ 1 Answers ]

If owner's equity and liabilities increased during the period, then assets must also have increased. Can someone help me remember what increases and what doesn't? Thank you!

Assets, liabilities, and stockholders' equity [ 2 Answers ]

This is the question with the possible answers: 3.At December 31, 2002, Robinson’s Home Improvement has $100,000 of assets, $40,000 of liabilities, and $60,000 of stockholders’ equity. On January 15, 2003, Robinson’s purchased $30,000 of assets by incurring a liability. Robinson’s total assets,...

Assets and Equity - Calculating Liabilities [ 2 Answers ]

the question is as follows: James auto Parts has assets of $9,100 and equity of $6,500. What is the amount of liabilities? What is the amount of claims? I understand the equation --assets = claims and asssets = claims/liabilities + Equity I know that the claims answer for this...

Assets liabilities owner's equity [ 1 Answers ]

Question 2: Indicate whether each transaction caused an increase (+), a decrease (-), or no change (NC) In assets, liabilities, and owner's equity: Owner's Assets Liabilities Equity a. withdrawal of cash by owner b. purchase of an asset for cash c. purchase of an asset on account d....

View more questions Search