Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. john joos is the owner and operator of personality

John Joos is the owner and operator of Personality Shine LLC, a motivational consulting business....

90.2K

Verified Solution

Question

Accounting

John Joos is the owner and operator of Personality Shine LLC, a motivational consulting business. At the end of its accounting period, December 31, 2013, Personality Shine has assets of $740,000 and liabilities of $178,000. Using the accounting equation, determine the following amounts:

a. Owner's equity as of December 31, 2013. $

b. Owner's equity as of December 31, 2014, assuming that assets increased by $141,000 and liabilities increased by $43,000 during 2014. $

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

Using OOP, write a C++ program that will read in a file of names. The file...

Programming
Q

Constant boiling HCl has a concentration of 11.6 M. Your laboratory assistant is going to dilute...

Chemistry
Q

In which stages of the data investigation cycle would you consider (a) level of measurement and...

Basic Math
Q

Question 1 Beaker Company Statements of Financial Position Beginning Balance Ending Balance Assets: Cash $ 256,000...

Accounting
Q

The adult brain regions consist of all of the following except neural tube diencephalon cerebral...

Biology
Q

A positive charge q is carried slowly from a point x to point y in...

Physics
Q

The Lagrangian of a particle of mass m moving in a plane is given by...

Physics
Q

f n n NIS if n is even 3n 1 if n is odd 2

Basic Math
Q

Dave bought a new car 8 years ago for $8400 to buy a new car...

Basic Math
Q

Yard Tools manufactures lawnmowers, weed-trimmers, and chainsaws. Its sales mix and unit contribution margin are...

Accounting
Q

Metlock Inc. has decided to raise additional capital by issuing $176,000 face value of bonds...

Accounting
Q

Assume the following facts for Munoz Company in 2019. Munoz reported pretax financial income of...

Accounting