Use the accounting equation to answer each of the question below.

1. SB19 Company incurred a loss of 18,000 for the year. Additional investments
amounts to 43,000. The owner’s equity is 220,000 after reflecting all adjustments.
What is the beginning balance of the owner’s equity?

2. At the beginning of the year, assets and liabilities of Stellvester Services are
670,000 and 240,000 respectively. During the year, there is no change in liabilities
of the company while it earned an income of 78,000 after deducting all expenses.
If the owner’s withdrawal amounts to 24,000, what is the balance of total assets
after all the adjustments?

3. On January 1 2018, Pablo Nase Services had assets of 570,000 and liabilities of
235,000. At the end of the year, its assets increased by 120,000 while its liabilities
increase to 250,000. The owner’s equity at the end of the year is?

4. On January 1, 2018, Ken Suson Company amounted to 450,000 and the owner’s
equity is 680,000. During the year, Caroline have a total revenue of 460,000.
Expenses incurred and paid amounted to 340,000. No liabilities were incurred
during the year. The total assets of Ken Suson Company on December 31, 2018
is?

5. Justin Company had owner’s equity of 456,000 and no outstanding liability at the
start of the year. During the year, Daniel earned a total revenue of 323,000 and
total expenses of 279,000. One third of the expenses were not paid at the end of
the year. The total assets to be recognized by Justin Company at the end of the
year is?

6. The owner’s equity of Josh Cullen Enterprise equal to 4/5 of the total assets and
the liabilities is 125,000. What is the amount of the owner’s equity?

7. During 2017, ESBI19 Enterprise has income of 560,000 and expenses of 415,000.
The sole proprietor of Emily Enterprise invested additional cash of 110,000. At the
end of the year, withdrawals amounted to 24,000. The increase/decrease in
owner’s equity for 2017 is?