The Assets and Liabilities of S&P Day Spa at December

question 77

Essay

The assets and liabilities of S&P Day Spa at December 31, 2014 and its revenue and expenses for the year are listed below. The capital of the owner is $68,000 at December 31, 2014. The owner invested an additional $10,000 during the year.
Determine the capital of the owner at January 1, 2014 (Hint: Calculate the increase/decrease in owner's equity first.). Prepare a statement of owner's equity for the current year ended December 31, 2014.

---

Definitions:

Multiple Relationship

A scenario where a professional has more than one type of relationship with a client, potentially affecting objectivity and judgment.

Directive Techniques

Counseling strategies where the counselor provides specific instructions, guidance, or suggestions to the client, as opposed to non-directive approaches that encourage clients to explore their thoughts and feelings openly.

Sexual Relationship

A relationship involving romantic or sexual intimacy between individuals.

Sexual Relationships

Interpersonal relationships that involve physical or emotional intimacy, often including sexual activity, between individuals.