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

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02-05-2022
Business

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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 :

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Ayokenny2001idn Ayokenny2001idn · Answer 1 · 2022-05-06T05:35:24-04:00

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

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Sagot :

What is equity?

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