Accounting Equation Penny Lyman is the owner and operator of Go109, a motivational consulting business. At the end of its accounting period, December 31,

Accounting Equation Penny Lyman is the owner and operator of Go109, a motivational consulting business. At the end of its accounting period, December 31, 20Y1, Go109 has assets of $851,640 and liabili Accounting Equation Penny Lyman is the owner and operator of Go109, a motivational consulting business. At the end of its accounting period, December 31, 20Y1, Go109 has assets of $851,640 and liabilities of $269,120. Using the accounting equation and considering each case independently, determine the following amounts. a.Penny Lyman, capital, as of December 31, 20Y1.$fill in the blank 1b.Penny Lyman, capital, as of December 31, 20Y2, assuming that assets increased by $134,560 and liabilities increased by $80,910 during 20Y2.$fill in the blank 2c.Penny Lyman, capital, as of December 31, 20Y2, assuming that assets decreased by $67,280 and liabilities increased by $23,850 during 20Y2.$fill in the blank 3d.Penny Lyman, capital, as of December 31, 20Y2, assuming that assets increased by $112,420 and liabilities decreased by $42,580 during 20Y2.$fill in the blank 4e.Net income (or net loss) during 20Y2, assuming that as of December 31, 20Y2, assets were $1,073,070, liabilities were $174,590, and there were no additional investments or withdrawals.$fill in the blank 5

Share This Post

Email
WhatsApp
Facebook
Twitter
LinkedIn
Pinterest
Reddit

Order a Similar Paper and get 15% Discount on your First Order

Related Questions

Option #2: Ace Fertilizer Company: Ethical Cost Allocations and Price Determination Read the case: Kreuze, J. (2009, September). Ace fertilizer company:

Option #2: Ace Fertilizer Company: Ethical Cost Allocations and Price Determination Read the case: Kreuze, J. (2009, September). Ace fertilizer company: Ethical cost allocations and price determination.Links to an external site..  IMA Educational Case Journal, 2(3), ART. 3. Case Requirements: Prepare a paper and address the following questions: Did Abby compute the

The Association of Certified Fraud Examiners (ACFE) has excellent resources including: white papers from industry-leading companies on emerging trends in

The Association of Certified Fraud Examiners (ACFE) has excellent resources including: white papers from industry-leading companies on emerging trends in the fraud industry, tips to stay ahead of fraudsters, and industry-specific strategies to stay current in the forensic accounting and fraud examination professions. Review the free white papers from the ACFELinks to

Option #2: Toshiba’s Creative Accounting for Construction Contracts Read the following case study: Dugar, A., Gujarathi, M. R. (2018). Toshiba’s creative

Option #2: Toshiba’s Creative Accounting for Construction Contracts Read the following case study: Dugar, A., Gujarathi, M. R. (2018). Toshiba’s creative accounting for construction contracts.Links to an external site.. Issues in Accounting Education, 33(3), 117–134. Case Requirements: The FASB and the IASB have issued a joint standard on revenue recognition. Although the