Martin Blair Is the Owner and Operator of Martin Consultants

question 109

Essay

Martin Blair is the owner and operator of Martin Consultants. At December 31 of the current year, Martin Consultants has assets of $430,000 and liabilities of $205,000. Using the accounting equation and considering each case independently, determine the following:?
(a) Martin Blair, capital, as of December 31.
(b) Martin Blair, capital, as of December 31 of the next year, assuming that assets increased by $12,000and liabilities increased by $15,000.
(c) Martin Blair, capital, as of December 31 of the next year, assuming that assets decreased by $8,000and liabilities increased by $14,000.

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