Chapter 1, Problem 1.21E

(a)

To determine

Accounting equation: Accounting equation is an accounting tool expressed in the form of equation, by creating a relation between resources or assets of a company and claims of resources to creditors and owners. Accounting equation is expressed as shown below:

$\text{Assets = Liabilities + Equity}$

To solve: For the net income or net loss of W Advertising for June 2018, using accounting equation.

(b)

To determine

To solve: For the net income or net loss of W Advertising for June 2018, using accounting equation.

(c)

To determine

To solve: For the net income or net loss of W Advertising for June 2018, using accounting equation