Fritz Evans is the owner and operator of Be-The-One, a motivational consulting business. At the end of its accounting period, December 31, 2018, Be-The-One has assets of $400,000 and liabilities of $100,000. Using the accounting equation, determine the following amounts: Owner’s equity as of December 31, 2018______________ 2. Owner’s equity as of December 31, 2019, assuming that assets decreased by $50,000 and liabilities increased by $20,000 during 2019­­­­­­­­­­­­­­__________________

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Olivia Smith is the owner of an unincorporated business that does landscaping. The business began operations on January 2, 2019 and has a December 31 year end. The 2019 and 2020 results for the business can be described as follows: 2019 During its first year, the business had sales of delivered merchandise and services totaling $185,000. OF this total $65,000 had not been collected on December 31, 2019. Olivia anticipates that #5,000 of these sales will be uncollectible. In addition to these sales of delivered merchandise and services, she received $23,000 in advances for merchandise to be delivered in 2020. Olivia purchased a large supply of landscaping materials from the trustee of a bankrupt landscaping business at a very good price. Since she is unlikely to use them in the next few years, she has arranged to sell these materials for $50,000. These materials have a cost of $40,000, resulting in a total gross profit of $10,000. Because of the size of this sale, she has agreed to…

need help preparing an statement table   The following information relates to Oriole Co. for the year 2020. Owner’s capital, January 1, 2020   $53,827   Advertising expense   $ 2,019 Owner’s drawings during 2020   6,728   Rent expense   11,663 Service revenue   71,321   Utilities expense   3,476 Salaries and wages expense   33,081

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Analyze: Assume the business earned net income of $141,000. If 20X1 was the first year of operation, what balance should be reflected for the Rosie Wilsman, Capital account at the end of the year if Wilsman's beginning capital was $101,000? Complete this question by entering your answer in the tabs below. Required 1 Required 2 Analyze Prepare general journal entries to close the Income Summary account and the partners' drawing accounts. View transaction list View journal entry worksheet No Date General Journal 3 December 31, 20X1 2 December 31, 20X1 December 31, 20X1 Income summary Rosa Escobedo, Capital Rosie Wilsman, Capital Rosie Wilsman, Capital Rosie Wilsman, Drawing Rosa Escobedo, Capital Rosa Escobedo, Drawing Required 2 > Debit Credit 141,000 56,400 84,600 43,200 43,200 56,400 43,200 43,200

give your opinion from the financial accounting perspective. ( You may refer to an appropriate accounting principle.) .Assume a financial year from 1st January -31st Dec 2022. The accountant reflected in the books that debtors owe the firm Kshs.2,150,000. This happened despite knowing that one of the debtors had been declared bankrupt one year ago. The debtor owed the business Kshs.300,000.