Managerial Accounting Chapter 1 & 2 Homework Help
5 /1 4/2 017 C engageN OW | A ssig nm ent | P rin t h ttp ://c vg.c engagenow .c om /ilr n /ta keA ssig nm ent/p rin tU nta kenA ssig nm ent.d o?assig nm entId = 1006677963 1 /1 A ssig nm ent: C hapte r 1 E xerc is e 2 1 .
T h e A cco u ntin g E qu atio n G in ger E nte rp ris e s b egan t h e y ear w it h t o ta l a sse ts o f $ 500,0 00 a n d t o ta l lia bilit ie s o f $ 250,0 00. U sin g t h is i n fo rm atio n a n d t h e a cco u ntin g e qu atio n , a n sw er e ach o f t h e fo llo w in g in depen den t q u estio n s.
1 . W hat w as t h e a m ou nt o f G in ger's o w ners ' e qu it y a t t h e b egin nin g o f t h e y ear? $ _ ________________ 2 . I f G in ger's t o ta l a sse ts in cre ase d b y $ 100,0 00 a n d it s t o ta l lia bilit ie s in cre ase d b y $ 77,0 00 d u rin g t h e y ear, w hat w as t h e a m ou nt o f G in ger's o w ners ' e qu it y a t t h e e n d o f t h e y ear?
$ _ ________________ 3 . I f G in ger's t o ta l lia bilit ie s in cre ase d b y $ 33,0 00 a n d it s o w ners ' e qu it y d ecre ase d b y $ 58,0 00 d u rin g t h e y ear, w hat w as t h e a m ou nt o f it s t o ta l a sse ts a t t h e e n d o f t h e y ear?
$ _ ________________ 4 . I f G in ger's t o ta l a sse ts d ou ble d t o $ 1,0 00,0 00 a n d it s o w ners ' e qu it y r e m ain ed t h e s a m e d u rin g t h e y ear, w hat w as t h e a m ou nt o f it s t o ta l lia bilit ie s a t t h e e n d o f t h e y ear?
$ _ ________________ e B ook