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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Definitions:

Cultural Deviance

The theory that suggests conformity to the prevailing cultural norms of lower-class society causes crime.

Intrusive Thoughts

Unwanted thoughts that are often distressing and intrude into a person’s consciousness.

Perfectionistic Standards

Extremely high or unrealistic expectations one imposes on oneself, often leading to stress or feelings of inadequacy.

Not Criminally Responsible

A legal defense claiming the defendant was not in control of their actions due to mental disorder at the time of the crime.