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Calculate ending equity

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Reference no: EM132503627

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Q1 - Calculate ending equity if opening paid in capital was $100,000 and retaining earnings were $10,000, but during the year recorded an after-tax profit of $30,000 and no dividends were paid out. Record ending paid-in capital, retained earnings and total equity separately.

Q2 - Calculate year- ending loan balance if you started the year with a $120,000 term loan with monthly principal payments of $2000. Interest payments for the year totaled $8,000.

Reference no: EM132503627

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