Current Income of Mr. George

by MAXAMUD
(SOMALILAND)

My question is about the stake of George. Where is the $25,000 US coming from? Because if we add up the equity which was $15,000 US plus the income received from the wedding the total is $25,500. Can you please explain little bit more?



Thanks
Maxamud

Comments for Current Income of Mr. George

Click here to add your own comments

CURRENT INCOME
by: Anonymous

You are off by $500 because you are leaving off the transaction for $500 where George took a draw to buy a birthday present which decreased assets and equity.

Click here to add your own comments

Return to Ask a Question About This Lesson!.






Enjoying this Website?
Help Support it with a Donation

OR...





Advertise on Accounting-Basics-for-Students.com

privacy policy