John James has assets of $ 150 000 and liabilities of $ 65 000. What is her equity?If the total assets of a business are $37 486.49 and the total liabilitiesare $11 547.80.calculate the owner's net worth.On June 31, 2020, Anthony Brown's accounting equation was as follows:Assets ($ 150 000) - Liabilities ($70 000) = Equity ($ 80 000), If during 20-21 theassets increase by $70 000 and the liabilities decrease by $ 20 000, Calculate theowner's equity.at June 31, 20-22.Ken Lewin, a factory worker in Toronto, Ontario asks you to help him find outhow much he is worth From a discussion with him you found out the following facts:.His bank balance is $3 650.He owns a home valued at $492 000, which has a mortgage on it of$ 162 360.• He owns furniture and household equipment valued at $ 55 000.He owns a summer property valued at $ 225 000, which he bought entirelywith money borrowed from the bank. Since the time of purchase he hasrepaid $ 80 000 of the loan.•He has unpaid bills amounting up to $4 200•He owes his mother-in-law Jane Duncan, the sum of $ 50 000, which heborrowed interest free several years ago at the time he bought his house.List Ken Lewin's assets in one column. His liabilities in another, and calculatehis equity.Mira Gordon assets and liabilities are listed below in random order:Bank balance $856.25; Bank Loan $5 000; House and lot; $185 000.00;Cash on hand $ 85.35, Amount owed to Esso oil $ 135.60, Amount owed toOntario hydro $85.50, miscellaneous equipment $1 850.00 mortgage on houseand lot $90 000.00, Household furniture and furnishings $4 800.00; Amountloaned oto Mira Gordon $ 2 000.00A.List the assets in one column and total them.B.List the liabilities in another column and total them.C. Calculate Mira Gordon's equity.

Name: John James has assets of $ 150 000 and liabilities of $ 65 000. What
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Description: John James has assets of $ 150 000 and liabilities of $ 65 000. What is her equity?If the total assets of a business are $37 486.49 and the total liabilitiesare $11 547.80.calculate the owner's net worth.On June 31, 2020, Anthony Brown's accounting

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

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John James has assets of $ 150 000 and liabilities of $ 65 000. What is her equity? If the total assets of a business are $37 486.49 and the total liabilities are $ 11 547.80.calculate the owner's net worth. On June 31, 2020, Anthony Brown's accounting equation was as follows: Assets ($ 150 000) - Liabilities ($70 000) = Equity ($ 80 000), If during 20-21 the assets increase by $70 000 and the liabilities decrease by $ 20 000, Calculate the owner's equity.at June 31, 20-22.

John James has assets of $ 150 000 and liabilities of $ 65 000. What is her equity? If the total assets of a business are $37 486.49 and the total liabilities are $ 11 547.80.calculate the owner's net worth. On June 31, 2020, Anthony Brown's accounting equation was as follows: Assets ($ 150 000) - Liabilities ($70 000) = Equity ($ 80 000), If during 20-21 the assets increase by $70 000 and the liabilities decrease by $ 20 000, Calculate the owner's equity.at June 31, 20-22.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Problem 1Q

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John James has assets of $ 150 000 and liabilities of $ 65 000. What is her equity? If the total assets of a business are $37 486. 49 and the total liabilities are $ 11 547.80 calculate the owner's net worth. On June 31, 2020, Anthony Brown's accounting equation was as follows. Assets ($ 150 000) - Liabilities ($70 000) = Equity ($ 80 000), If during 20 -21 the assets increase by $70 000 and the liabilities decrease by $ 20 000, calculate the owner's equity.at June 31, 20- 22.
Ahmad Jiwa is an entrepreneur who manages the "One Soul" mini market. At the end accounting period December 31, 2021, Satu Jiwa has assets of IDR 250,000,000 and liabilities 150.000.000. Required: Using the accounting equation, calculate the amount: 1. Owner's equity, as of December 31, 2021? 2. Owner's equity, on December 31, 2022, assuming assets decrease by Rp. 20,000,000 and liabilities increase by IDR 25,000,000 during 2022?
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The accounting equation for Goodboy's enterprises is as follows: Assets Liabilities Owner's Equity $120,000 = $60,000 + $60,000, If Goodboy's purchases office equipment on account for $12,000, the accounting equation will change to? Show Solution.
Natalie Gold is the owner of the marketing agency Vivid Voice. The company focuses on online consulting services, such as online marketing campaigns and blog services. The June transactions for Vivid Volce resulted in totals at June 30, 2020, as shown in the following accounting equation format: Assets Liabilities. Accounts Equity Explanation of Equity Accounts Receivable Supplies Equipnent $2,000 + $2,700 Natalie Gold, Capital $14,000 Cash $6, 800 . Payable $4, 800 $7,300 Transaction During July, the following occurred: a. Collected $880 from a credit customer. b. Paid $2,900 for equipment purchased on account in June. c. Did work for a client and collected cash; $1,900. d. Paid a part-time consultant's wages: $1,030. e. Paid the July rent, $2,000. f. Paid the July utilities: $1,000. g. Performed services for a customer on credit $2,000. h. Called an information technology consultant to fix the agency's photo editing software in August; it will cost $430.