question archive   Annie Rasmussen is the owner and operator of Go44, a motivational consulting business

  Annie Rasmussen is the owner and operator of Go44, a motivational consulting business

Subject:AccountingPrice: Bought3

 

Annie Rasmussen is the owner and operator of Go44, a motivational consulting business. At the end of its accounting period, December 31, 2018, Go44 assets of $720,000 and liabilities of $180,000. Using the accounting equation and considering each case independently, determine the following amounts: a. Annie Rasmussen, capital, as of December 31, 2018. $338.100 b. Annie Rasmussen, capital, as of December 31, 2019, assuming that assets increased by $96, 500 and liabilities increased by $30,000 during 2019. $411.740 c. Annie Rasmussen, capital, as of December 31, 2019, assuming that assets increased by $168,000 and liabilities increased by $15,000 during 2019. $ 3, 250, 30. d. Annie Rasmussen, capital, as of December 31, 2019, assuming that assets increased by $175,000 and liabilities decreased by $18,00o during 2019. $ e..Net Income (or net toss) during 2019, assuming that as of December 31, 2019, assets were $880,000, liabilities were $220,000, and there were no additional investments or withdrawals. If you know two figures for the accounting equation (Assets = + Equity), you can rearrange it to calculate the missing amounts.

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