Office Store has assets equal to $123,000 and liabilities equal to $47,000 at year-end. What is the equity for Office Store at year-end?

Q: On May 31 of the current year, the assets and liabilities of Riser, Incorporated are as follows:…

A: Equity is the amount of capital that an entity has. It is the money invested by the owner of…

Q: At the beginning of the year, long-term debt of a firm is $54,112.  At the end of the year,…

A: Cash flow to creditors refers to movement of  cash and cash equivalents i.e. liquid cash in and out…

Q: Office Store has assets equal to $172,000 and liabilities equal to $134,000 at year-end. What is the…

A: Please see the next step for the solution

Q: Al Rahami Shop started the year with total assets of OMR210,000 and total liabilities of OMR120,000.…

A: Formula: Net Income = Revenues - expenses

Q: At the beginning of the year a sole proprietorship had liabilities of 100k and owners equity of 96k.…

A: Asset :— Assets is Something which Containing economic Value & Future Value. It is the Part of…

Q: At the beginning of the year, Vickey Barney Company's assets amount P 7,562,432 and the owner's…

A: As per accounting equation, the total assets of a firm will be equal to the total of liabilities and…

Q: At the beginning of the year, Alex's Electronic Inc. had long-term debt of $280 and total debt of…

A: Given information is: At the beginning of the year, Alex's Electronic Inc. had long-term debt of…

Q: John James has assets of $ 150 000 and liabilities of $ 65 000. What is her equity? If the total…

A: Accounting equation means the relation between the assets , liabilities and owner equity. Assets…

Q: At the beginning of the year, Quaker Company's liabilities equal to $45,000. During the year, assets…

A: As per Accounting equation:-    Assets = Liabilities + Equity

Q: Al Rahami Shop started the year with total assets of OMR210,000 and total liabilities of OMR120,000.…

A: Introduction: Income statement: All revenues and expenses are to be shown in income statement. It…

Q: At the end of an accounting period, a company's liabilities equaled $295,000, and owner's equity…

A: An accounting equation refers to a mathematical representation of the transaction. It indicates that…

Q: The total assets of the business at the end of the year was RM120,000 and the liabilities were 50%…

A: The accounting equation refers to the equation of the balance sheet. It is based on the method of…

Q: Presented below are the balance of the assets, liabilities, owner's equity, revenues, and expenses…

A: Income statement: Income statement is the financial statement which shows the financial performance…

Q: What is the net income for the current year? Total assets, January 1 P150,000 32,000 Cash balance,…

A: The question is related to Net Income for the current year. Net income is the excess of revenue over…

Q: On October 1 of the current year, the assets and liabilities of HPL are as follows: Cash, $10,000;…

A: An accounting equation refers to a mathematical representation of the transaction. It indicates that…

Q: Krammer Company has liabilities equal to one fourth of the total assets. Krammer's stockholders'…

A: Accounting Equation: Accounting equation is the mathematical representation of the relationship…

Q: Giga company had the following account balances at the end of its fiscal year. What is its net…

A: Net income of the business can be computed with the help of total sales or receipts where it was…

Q: Answer the following questions. Hint. Use the accounting equation. a. At the beginning of the year,…

A: A company's total assets are equivalent to the total of its liabilities plus its shareholders'…

Q: Walstrom's Electronics year-end balance sheet consisted of the following amounts: Cash $75,000,…

A: Introduction: Assets: Assets are of two types:  1 ) Current Assets 2 ) Non current Assets. Assets…

Q: If the assets of a business are $480,000 and the liabilities are $160,000, howmuch is the equity?

A: Formula: Equity = assets - liabilities.

Q: At the end of an accounting period, a company's total assets equaled $505,000, and owner's equity…

A: Solution: As per basic accounting equation: Total Assets = Liabilities + Owner's Equity Total Assets…

Q: The accounting equation for Goodboy's enterprises is as follows: Assets Liabilities Owner's Equity…

A: According to the accounting equation: Assets = Liabilities + Owner's Equity

Q: Al Rahami Shop started the year with total assets of OMR210,000 and total liabilities of OMR120,000.…

A: Introduction: Income statement: All revenues and expenses are to be shown in income statement. It…

Q: On June 30 of the current year, the assets and liabilities of Phoenix, Inc. are as follows: Cash…

A: Owners' equity is the capital that the owner of the business has invested in the business. It can be…

Q: Zion Company has assets of $600,000, liabilities of $250,000, and equity of $350,000. It buys office…

A: An accounting equation refers to a mathematical representation of the transaction. It indicates that…

Q: Echo Company has assets of $638,000, liabilities of $269,000, and equity of $369,000. It buys office…

A: An accounting equation refers to a mathematical representation of the transaction. It indicates that…

Q: On June 30 of the current year, the assets and liabilities of Phoenix, Inc. are as follows: Cash…

A: Total assets = Cash + Accounts Receivable+ Supplies + Equipment = $20,500+ $7,250 + $650 + $12,000 =…

Q: The balance in the capital account of China company as at Jan 1, is $900,000. During the month of…

A: Ending Capital = Beginning capital + Investment made by owner's + Net income - Amount withdrawn by…

Q: Blossom Service Shop started the year with total assets of $ 343000 and total liabilities of $…

A: According to accounting equation, assets equals to sum of liabilities and shareholders equity.

Q: At the beginning of the period, the owner’s capital account of a business has a balance of ₱220,000.…

A: Owners ending balance = Beginning balance of owners capital + Net income - drawings

Q: A company has liabilities of $15,500 and $20,200 of owners' equity at the year end. What is the…

A: Owners' equity = Total assets - Total liabilities  Total assets = Owners' equity + Total liabilities…

Q: The owners' equity at the beginning of 2018 was how much?

A: The accounting equation describes the basic principle of accounting as follows: Assets = Liabilities…

Q: I total assets increased €l50,000 during the year and total liabilities decreased E80,000, what is…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: At September 1, 2020, Hotel Suites Co. reported owner's capital of $124,000. During the month, Hotel…

A: Owner's capital at the end of month = Beginning owner's capital + (Revenues - Expenses) - Drawings

Q: At the end of a recent year, Anderson Cleaning Service, a full-service house and office cleaning…

A: The accounting equation states : Assets = Liabilities + owners equity

Q: Mazaya Company started the year with total assets of RO.360,000 and total liabilities of…

A: Option D is the answer:

Q: at the beginning of the period,. the owners capital account of a business has a balance of 220,000.…

A: Capital refers to the amount that is kept by the company for multiple purposes or to be used in an…

Q: Graff Company had the following data for the month of November: Graff, Capital, November 1 = $10,000…

A: Formula: Ending capital = Beginning capital + Net income - Withdrawals

Q: A firm began the financial year with rent payable owing of £700. During the​ year, the business paid…

A: As per the accrual concept of accounting, all revenues and expenses related with a particular period…

Q: A business has $100,000 of capital at the beginning of a reporting period. The entity earns $15,000…

A: Note:As per the policy we are authorized to solve the first question. Since the exact one wasn’t…

Q: Office store Co. has assets equal to $162,000

A: Solution: Accounting Equation says that Assets = Liabilities + Equity We can form following formula…

Q: "At the end of the current year, the owner's equity in Durant Co. is P360,000. During the year, the…

A: Increase (decrease) in Equity during the year = Increase in assets - increase in liabilities = 68000…

Q: At the beginning of the year, long-term debt of a firm is $310 and total debt is $350. At the end of…

A: Cash flow to creditors is used to measure the amount of cash or net payment made to the creditors or…

Q: Answer the following questions. Hint. Use the accounting equation. a. At the beginning of the year,…

A: The accounting equation is the equation that is mainly used in the preparation of financial…

Q: Walter Mart has net assets of P3,358,000 after liabilities of P1,267,000 at the end of the year.…

A: Solution: Walter mart's equity at year end = Total assets - Total liabilities

Q: At the beginning of the year, the assets of MM Services were P495,765 and its owner's equity was…

A: Owner's equity shows the value in the business of owner or ownership in the business. It increases…

Q: A business has net assets of £296,400 on 31 Jan 2021 and had net assets of £256,250 on 31 Jan 2020.…

A: Working 1. The goods used by owner for personal use is drawing made by him and to be valued at cost…

Q: Office Supplies has assets equal to $137,000 and liabilities equal to $110,000 at year-end. What is…

A: Definition of Assets: Property or things owned by business. Assets classified in to: Fixed Assets…

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is