Question

In: Accounting

To better understand if it was possible to consider opening more locations, Robert wanted to know...

To better understand if it was possible to consider opening more locations, Robert wanted to know how much equity he had in his business and used the following totals to help in his calculations:

Beginning capital = $35,000
Drawings = $4,000
Net income = $18,000
Investment by owner = $9,000


__________ was the ending owner’s equity that Robert calculated.

Solutions

Expert Solution

Ending equity = beginning capital + net income + investment by owner - drawings

= 35000+18000+9000-4000

=$58,000

Hence, the answer is $58,000

ekkarill92 answered 2 years ago
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