Chapter 1 Homework -Set 1 Problem 3 A sue's Sandwiches has $23,000 n sets and $15,00 23.00 B. Hazel's Hula hoops has $25,000 in equity and $35,000 C. Ken's Camp Grounds has $5,000 in debt and $25,000 in 15,00000 debt. What is the company's equity? in assets. How much debt does Hazel have? equity. What are Ken's assets? 35,000 10,000 25,000 2o.o005,000 25,000 A Cash AAccts. Rec. A Equipment & Equity 24,000 D. 50,000 72,000 What is the value of the liabilities? 32,000 Beg. Equity Vithdrawals- 30,000 E. E Revenues 90,000 Expenses 65,000 72,000 9,000 Investments Withdrawals 20,000 Revenues Expenses 83,000 64,000 What is net income? 50,000 Revenues 210,000 Expenses d. Liabilities 165,000 92,000 145,000 What are the total assets at the end of the year? Cash Acct. Rec 16,000 Equipment Acct. Pay 50,000 17,000 22,000 What is the amount of owner's equity? Withdrawals Investment Beg. Equity 257,000 Net Income 51,000 40,0006,000 What is the ending equity? D. 104.000