Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. brock hahn is the owner and operator of dream-it l

Brock Hahn is the owner and operator of Dream-It LLC, a motivational consulting business. At...

80.2K

Verified Solution

Question

Accounting

Brock Hahn is the owner and operator of Dream-It LLC, a motivational consulting business. At the end of its accounting period, December 31, 2015, Dream-It has assets of $780,000 and liabilities of $150,000. Using the accounting equation, determine the following amounts:

a. Owner's equity as of December 31, 2015. $

b. Owner's equity as of December 31, 2016, assuming that assets increased by $90,000 and liabilities increased by $25,000 during 2016. $

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Cristian has been offered positions by two cable companies The first company pays a salary...

Basic Math
Q

Project L costs $70,000, its expected cash inflows are $16,000 per year for 8 years, and...

Finance
Q

what four skin functions that could stop a person from getting a critical burn, how does...

Medical Sciences
Q

Which leadership role do you prefer? Why? Which of the three content motivation theories do you...

Operations Management
Q

A bar of 2 m long with negligible weight rests in horizontal position on two...

Physics
Q

15 Use fundamental trig identities to expand and simplify cos x sin Select one cos2x...

Geometry
Q

Which of the following is equivalent to the line x t 1 1 1 1...

Geometry
Q

A New York Times article reported that a survey conducted in 2014 included 36 000...

Statistics
Q

29 Universal blood donors People with type O negative blood are referred to as universal...

Statistics
Q

On 1 October 2007 William Ltd purchased a machine for $60,000 + GST. Installation cost...

Accounting
Q

Write a paragraph on which of the three differently weighted portfolios (equal, market cap &...

Finance
Q

Which of the following is a valid tax fOrm for use by certain qualified taxpayers...

Accounting