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An explanation on how to solve for e. ...

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Accounting

An explanation on how to solve for e.

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Captivating Your Audience is a motivational consulting business owned and operated by Edith Kittrell. At the end of its accounting period, May 31,20Y2, Captivating has assets of $638,400 and liabilities of $201,730. Using the accounting equation and considering each case independently, determine the following amounts: a. Owner's equity as of May 31, 20Y2. b. Owner's equity as of May 31,20Y3, assuming that assets increased by $100,870 and liabilities increased by $60,650 during 20Y3. c. Owner's equity as of May 31,20Y3, assuming that assets decreased by $50,430 and liabilities increased by $17,880 during 20Y3. d. Owner's equity as of May 31,20Y3, assuming that assets increased by $84,270 and liabilities decreased by $31,920 during 20Y3. e. Net income (or net loss) during 20Y3, assuming that as of May 31,20Y3, assets were $804,380, liabilities were $130,870, and the owner made no additional investment in the business or withdrew any cash for personal use

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