Question: Answer with explanation please https://translate.google.com/ (a) The Al Barkat holding reports following information at December 31, 2019. Equipment $10,000, Cash $8,000, Service Revenue $36,000, Rent

Answer with explanation please

Answer with explanation please https://translate.google.com/ (a) The Al Barkat holding reports following

https://translate.google.com/ (a) The Al Barkat holding reports following information at December 31, 2019. Equipment $10,000, Cash $8,000, Service Revenue $36,000, Rent Expense $11,000, Service Revenue $36,000, Accounts Payable $2,000, Utilities Expense $4,000, Accounts Receivable $9,000, Salaries and Wages Expense $7,000, Notes Payable $16,500, Owner's Drawings $5,000. Calculate the total assets of Al Barkat at December 31, 2019. (b) Calculate the net income of the Al Barkat company when it reports following information at December 31, 2014. Service Revenue $46,000, Rent Expense $17,000, Service Revenue $6,000, Accounts Payable $5,000, Utilities Expense $4,000, Salaries and Wages Expense $7,000, Notes Payable $16,500, Owner's Drawings $5,000. (c) Based on above calculations, compute the owner's equity. 1 B T

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