hi sorry i am doing an online class and really do not get this question it says company a
2010 its assets were 45000 and liabilities were 23500 so the equity was 21500 figured that out but then it says for 2011 assets were 48000 libilities were ? and during the year ownder investments 5000 net income 7500 and owner cash withdrawals were 2500
so i need to figure out the equity on dec 31 and liability and i really am just not understanding it can someone please explain to me
2010 its assets were 45000 and liabilities were 23500 so the equity was 21500 figured that out but then it says for 2011 assets were 48000 libilities were ? and during the year ownder investments 5000 net income 7500 and owner cash withdrawals were 2500
so i need to figure out the equity on dec 31 and liability and i really am just not understanding it can someone please explain to me
