Question

eBook Show Me How Calculator E Print Item Accounting Equation Annie Rasmussen is the owner and operator of G014, a motivational consulting business. At the end of its accounting period, December 31, 2018, 014 assets of $663,840 and liabilities of $209,770. Using the accounting equation and considering each case independently, determine the following amount a. Annie Rasmussen, capital, as of December 31, 2018 b. Annie Rasmussen, capital, as of December 31, 2019, assuming that assets increased by $104,890 and liabilities increased by $63,060 during 2019. C. Annie Rasmussen, capital, as of December 31, 2019, assuming that assets decreased by $52,440 and liabilities increased by $18,590 during 2019. d. Annie Rasmussen, capital, as of December 31, 2019, assuming that assets increased by $87,630 and abilities decreased by $33,190 during 2019, e. Net income (or net loss) during 2019, assuming that as of December 31, 2019, assets were $836,440, liabilities were $136,090, and there were no additional investments or withdrawals.

Answer 1

& Packs: Asset - $ 663,890 Liabilities - $ 209, 770 ? As on 31. Dec. 18 Capital as on 31. Dec. 18 - - Aucts - Capital & hiabilities / 66.3840 = Capital + 209770 Capital, 663840 - 209170 459,070 b. As on 31. Dec. 19 New assets New liabilities: Capital $663,8%0 + 1,09, 890 $209,770+63,060 49.5,900 a. As on 31. Dec 19 New assets = $663,8% - 52,440 New liabilities 209170 +16,590 Capital Warmwatha 383,040 1 ss on 31. Dec 19 New assets 663,810 + 87,630 Now liabilities 209,710 - 33,190 Capital 574,890 Capital as on 31. Dec. 18 - Cantal as on 31. Dec. 19 - Profit /(Loss) 4,34,07 (from A) 836440-136090 24 6,280 . Profit is 246,280