Jonathan Martin Is the Owner and Operator of Martin Consultants

question 70

Essay

Jonathan Martin is the owner and operator of Martin Consultants. At December 31, 2011, 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. Jonathan Martin, capital, as of December 31, 2011.
b. Jonathan Martin, capital, as of December 31, 2012, assuming that assets increased by $12,000 and liabilities increased by $15,000 in 2012.
c. Jonathan Martin, capital, as of December 31, 2012, assuming that assets decreased by $8,000 and liabilities increased by $14,000 during 2012.

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Definitions:

Teenage

Relating to a period of life that immediately follows the onset of puberty and ends at adulthood.

College-Age

A term typically referring to individuals between 18 and 22 years old, often associated with higher education pursuits.

BMI

Body Mass Index (BMI) is a numerical computation based on height and weight which is often utilized to categorize underweight, normal weight, overweight, and obesity in adults.

Depressed

A state characterized by feelings of severe despondency and dejection, often encompassing both physical and psychological aspects.