The Accounts of Mason Company at the End of the Past

question 121

Short Answer

The accounts of Mason Company at the end of the past year report the following amounts:
$\begin{array} { l }\text { Accounts }&\text { Amount }\\ \text {Owner Withdrawals, G. Mason. } &\$15,500 \\ \text {Revenues } &\$97,000 \\ \text {Expenses } &\$43,800 \\ \text {Owner investments } &2,000 \\\end{array}$

If the beginning equity for the year was $173,000, calculate the ending equity for Mason Company.

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Definitions:

Duration

A measure of the sensitivity of a bond's price to changes in interest rates, essentially a weighted average of the time until cash flows are received.

Coupon Bond

A type of bond that pays the holder a fixed interest payment (coupon) at regular intervals until the maturity date, when the principal amount is repaid.

Maturity

The expiration date of a financial instrument, at which point the principal (and all remaining interest) is due to be paid.

Coupon Rate

The annual interest rate paid by bond issuers on the bond's face value.