Doc's ribhouse had beginning equity of $52,000; net income of $35,000, and dividends by the company of $12,000. calculate the en

Question

marin [14]

4 years ago

8

Doc's ribhouse had beginning equity of $52,000; net income of $35,000, and dividends by the company of $12,000. calculate the en

ding equity.

Business

1 answer:

Svetradugi [14.3K] · Answer 1 · 2022-01-09T04:16:46+03:00

Doc's ribhouse beginning equity = $52,000
Net income = $35,000
dividends by the company = $12,000
Ending equity = ?
we can calculate ending equity by using this formula:
Beginning Equity + Net Income - Dividends = Ending Equity
now by putting the values we get
$52,000 + $35,000 - $12000 = Ending equity
Ending equity = $52,000 + $23,000
= $75,000
so, $75,000 is the ending equity.