Dave Ryan is the owner and operator of Ryan s Arcade. Ryan s $450,000 and liabilities of $125,000 at 1 answer below »
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Dave Ryan is the owner and operator of Ryan s Arcade. Ryan s $450,000 and liabilities of $125,000 at the year ended 31st Dec. using the accounting equation, determine the following amounts: (a). Owner s equity as of December 31 of the current year (b). Owner s equity as of December 31 at the end of the next year, assuming that assets increased by $65,000 and liabilities increased by $35,000 during the year.
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