Accounting Equation Annie Rasmussen is the owner and operator of Go44, a motivational consulting business. At the end of its accounting period, December 31, 2018, Go44 has assets of $720,000 and liabilities of $180,000. Using the accounting equation and considering each case independently, determine the following amounts: a. Annie Rasmussen, capital, as of December 31, 2018. $ b. Annie Rasmussen, capital, as of December 31, 2019, assuming that assets increased by $96,500 and liabilities increased by $30,000 during 2019. $ c. Annie Rasmussen, capital, as of December 31, 2019, assuming that assets decreased by $168,000 and liabilities increased by $15,000 during 2019. $ d. Annie Rasmussen, capital, as of December 31, 2019, assuming that assets increased by $175,000 and liabilities decreased by $18,000 during 2019. $ e. Net income (or net loss) during 2019, assuming that as of December 31, 2019, assets were $880,000, liabilities were $220,000, and there were no additional investments or withdrawals. $ EX 1-5 Accounting equationThe total assets and total liabilities (in millions) of Dollar Tree Inc. and Target Corporation follow:OBJ. 3Dollar Tree Target Corporation$41,404Assets$3,567Liabilities1,78227,407Determine the owners' equity of each company.EX 1-6 Accounting equationDetermine the missing amount for each of the following:OBJ. 3Assets+ Owner's EquityLiabilitiesa.$556,000+$3,374,000b.$6,111,200X$5,725,000C.$2,150,000 =$812,500XEX 1-7 Accounting equationAnnie Rasmussen is the owner and operator of Go44, a motivational consulting business.At the end of its accounting period, December 31, 2018, Go44 has assets of $720,000and liabilities of $180,000. Using the accounting equation and considering each caseindependently, determine the following amounts:овJ. 3, 4a. Annie Rasmussen, capital, as of December 31, 2018.b. Annie Rasmussen, capital, as of December 31, 2019, assuming that assets increased by$96,500 and liabilities increased by $30,000 during 2019.c. Annie Rasmussen, capital, as of December 31, 2019, assuming that assets decreasedby $168,000 and liabilities increased by $15,000 during 2019.d. Annie Rasmussen, capital, as of December 31, 2019, assuming that assets increased by$175,000 and liabilities decreased by $18,000 during 2019.e. Net income (or net loss) during 2019, assuming that as of December 31, 2019, assetswere $880,000, liabilities were $220,000, and there were no additional investments orwithdrawals. PR 1-1A TransactionsOBJ. 4v Cash bal. at end ofJune: $21,020On June 1 of the current year, Chad Wilson established a business to manage rentalproperty. He completed the following transactions during June:a. Opened a business bank account with a deposit of $30,000 from personal funds.ShowMeHowb. Purchased office supplies on account, $1,800.c. Received cash from fees earned for managing rental property, $10,000.d. Paid rent on office and equipment for the month, $4,500.e. Paid creditors on account, $1,250.f. Billed customers for fees earned for managing rental property, $16,800.g. Paid automobile expenses (including rental charges) for the month, $750, and miscel-laneous expenses, $980.h. Paid office salaries, $4,000.i. Determined that the cost of supplies on hand was $680; therefore, the cost of suppliesused was $1,120.j. Withdrew cash for personal use, $7,500.Instructions1. Indicate the effect of each transaction and the balances after each transaction, usingthe following tabular headings:Assets= Liabilities +Owner's EquityAccountsAccounts Chad Wilson, Chad Wilson,FeesRentSalaries SuppliesAutoMisc.Cash + Receivable + Supplies = Payable + Capital - Drawing + Earned - Expense - Expense - Expense - Expense - Expense2.Briefly explain why the owner's investment and revenues increased owner'sequity, while withdrawals and expenses decreased owner's equity.3. Determine the net income for June.4. How much did June's transactions increase or decrease Chad Wilson's capital?

Name: Accounting Equation Annie Rasmussen is the owner and operator of Go44,
Uploaded: 2022-11-21T15:41:50.000Z
Channel: Bartleby
Description: Accounting Equation Annie Rasmussen is the owner and operator of Go44, a motivational consulting business. At the end of its accounting period, December 31, 2018, Go44 has assets of $720,000 and liabilities of $180,000. Using the accounting equation

Question

Accepted Answer

We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…