Wildhorse Company is owned by Rachel Wildhorse. The company had total assets of $880,000 and total liabilities of $515,000 at the beginning of the year. Answer each of the following independent questions: (a) During the year, total assets increased by $129,000 and total liabilities decreased by $76,000. What is the amount of owner's equity at the end of the year? Owner's equity (b) Total liabilities decreased by $85,000 during the year. The company incurred a loss of $56,000. R. Wildhorse made an additional investment of $95,000 and made no withdrawals. What is the amount of total assets at the end of the year? Total assets $ $ (c) Total assets increased by $60,700, and total liabilities decreased by $58,000. There were no additional owner's investments, and R. Wildhorse withdrew $50,000. What is the amount of profit or loss for the year? Profit/(Loss) $

ERS Inc. maintains and repairs office equipment. ERS had an average of 10,000 shares of commonstock outstanding for the year. The following income statement account balances are availablefor ERS at the end of 2019.Advertising expense $24,200Depreciation expense(on service van) 16,250Income taxes expense 15,150Insurance expense 11,900Interest expense 10,100Rent expense 58,400Salaries expense (foradministrative personnel) $195,600Service revenue 933,800Supplies expense 66,400Utilities expense 26,100Wages expense (for servicetechnicians) 448,300Required:1. Prepare a single-step income statement for ERS for 2019.2. CONCEPTUAL CONNECTION Compute net profit margin for ERS. If ERS is able toincrease its service revenue by $100,000, what should be the effect on future income?

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During the year, a company had sales of $770,000 expenses of $330,000 and it declared and paid dividends of $265,000. The company began the year with retainer earnings of $160,000. What was the amount of retainer earnings at the end of the year? Show your work.

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Gerardo Company had a net income of $75,000 and other comprehensive income of $12,500 for the year. On January 1, the retained earnings balance was $525,000 and the accumulated other comprehensive income balance was $55,000. a. Determine the comprehensive income for the year. B. Determine the retained earnings balance on December 31. C. Determine the accumulated other comprehensive income on December 31.

At the beginning of the year Unique Ltd. had total assets of $623,000 and total liabilities of $349,000.During the year Unique collected new contributions by owners of $21,000, paid dividends of $14,000 and had total expenses of $362,000.At the end of the year Unique has total assets of $672,000 and total equity of $377,000.What was the company's beginning total equity? What was the change in liabilities during the year? What was the company's ending total liabilities? What was the company's profit for the year? What is the total revenues earned during the year?

Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020): Borrowed $18,279 from banks due in two years. Purchased additional investments for $22,200 cash; one-fifth were long term and the rest were short term. Purchased property, plant, and equipment; paid $9,584 in cash and signed a short-term note for $1,422. Issued additional shares of common stock for $1,481 in cash; total par value was $1 and the rest was in excess of par value. Sold short-term investments costing $19,021 for $19,021 cash. Declared $11,138 in dividends to be paid at the beginning of the next fiscal year. Prepare a classified balance sheet for Orange at September 26, 2020, based on these transactions. please complete this with working and show how did you get the number with other work answer in text thanks

At the beginning of the year, Quaker Company's liabilities equal $55,000. During the year, assets increase by $60,000, and at year-end assets equal $190,000. Liabilities decrease by $17,000 during the year. What are the beginning and ending amounts of owners' equity?