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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