Managerial Accounting, Student Value Edition Plus NEW MyLab Accounting with Pearson eText -- Access Card Package (4th Edition)
Managerial Accounting, Student Value Edition Plus NEW MyLab Accounting with Pearson eText -- Access Card Package (4th Edition)
4th Edition
ISBN: 9780133849332
Author: Karen W. Braun, Wendy M. Tietz
Publisher: PEARSON
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Chapter 13, Problem 13.20AE
To determine

To prepare: The statement of cash flows of the company MI using the direct method.

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Terry Fleming is the owner and operator of Go-For-It LLC, a motivational consulting business. At the end of its accounting period, December 31, 2018, Go-For-It has assets of $675,000 and liabilities of $215,000. Using the accounting equation, determine the following amounts: a. Owner's equity as of December 31, 2018. b. Owner's equity as of December 31, 2019, assuming that assets increased by $112,300 and liabilities increased by $32,000 during 2019.
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The KEY to Understanding Financial Statements; Author: Accounting Stuff;https://www.youtube.com/watch?v=_F6a0ddbjtI;License: Standard Youtube License