Answered

Westonci.ca is the Q&A platform that connects you with experts who provide accurate and detailed answers. Connect with a community of experts ready to help you find accurate solutions to your questions quickly and efficiently. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals.

Doc's ribhouse had beginning equity of 79000 and net icome of 23000. The company has no other transaction impacting equity. Calculate the ending equity

Sagot :

ayokenny2001

Doc's ribhouse ending equity would be $102,000 if has beginning equity of 79000 and net icome of 23000.

What is equity?

Equity is the amount of capital invested or owned by the owner of a company. The equity is evaluated by the difference between liabilities and assets recorded.

Doc's ribhouse beginning equity

= $79,000

Net income

= $23,000

Ending equity

= ?

Ending Equity

= Beginning Equity + Net Income - Dividends

= $79,000 + $2

= $102,000

Hence, Doc's ribhouse ending equity would be $102,000

Learn more about equity here : https://brainly.com/question/11556132

#SPJ1  

We appreciate your time. Please come back anytime for the latest information and answers to your questions. We appreciate your time. Please come back anytime for the latest information and answers to your questions. Westonci.ca is your go-to source for reliable answers. Return soon for more expert insights.