Determine the Ending Owner's Equity of a Business Having a Beginning

question 77

Short Answer

Determine the ending owner's equity of a business having a beginning owner's equity of $ 9,500, additional investments of $450, withdrawals of $ 1,000, and net income of $ 1,400.

---

Definitions:

Education Level

The highest degree or level of school completed by an individual.

Equal Pay Act

Legislation requiring that men and women be given equal pay for equal work in the same establishment.

Seniority System

A workplace policy in which decisions on promotions, layoffs, and other job-related conditions are made based on an employee's length of service.

Job Ranking Method

A simple system of job evaluation used to rank jobs in an organization in order of their importance or complexity.