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26 June, 10:59

Doc's ribhouse had beginning equity of $52,000; net income of $35,000, and dividends by the company of $12,000. calculate the ending equity.

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  1. 26 June, 11:45
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    Doc's ribhouse beginning equity = $52,000

    Net income = $35,000

    dividends by the company = $12,000

    Ending equity = ?

    we can calculate ending equity by using this formula:

    Beginning Equity + Net Income - Dividends = Ending Equity

    now by putting the values we get

    $52,000 + $35,000 - $12000 = Ending equity

    Ending equity = $52,000 + $23,000

    = $75,000

    so, $75,000 is the ending equity.
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