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....

80.2K

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

Calculus
1.2K views

Use intercepts to help sketch the plane.2x + 3y + z = 6x-intercept x =y-intercept...

Economics
1.2K views

Comment on the recent annoucement by the US government to recognize Jerusalem as the capital of...

Basic Math
1.2K views

Josie borrows 2000 and repays a final amount of 2186 17 in 2 years What...

Calculus
1.2K views

For each of the following integrals give an appropriate trigonometric substitution of the form f...

Accounting
1.2K views

Identify two specific changes you would make to the Frank-Dodd Act based on the current...

Accounting
1.2K views

Consult Paragraph 56 of PCAOB Auditing Standard No. 12 and Sections 204 and 301 of...

Accounting
1.2K views

The table below has data on monthly per capita private health insurance expenses and the...

Accounting
1.2K views

During 2021, Donald Collins purchased 225 shares of common stock issued by New Generation Electronics...

Accounting
1.2K views

Accounting equation is the basis for the preparation of statement of financial position in accordance...

Accounting
1.2K views

2. Define responsibility centers. What are the various types of responsibility centers and how we...

Finance
1.2K views

A 9% semiannual coupon bond matures in 4 years. The bond has a face value...

Finance
1.2K views

If you deposit $5,000 today into an account earning an annual rate of return of...