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What is the owner equity as of december

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Jan Petri is the owner and operator of Go-For-It LLC, a motivational consulting business. At the end of its accounting period, December 31, 2018, Go-For-It has assets of $539,000 and liabilities of $129,000. Using the accounting equation, determine the following amounts:

Problem a. What is the Owner's equity as of December 31, 2018?

Problem b. What is the Owner's equity as of December 31, 2019, if assets increased by $102,000 and liabilities increased by $31,000 during 2019?

Reference no: EM132917874

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