Figgaro Company's accounts and their balances,as of the end of August,are included below.All accounts have normal balances:
a.Calculate net income.
b.Determine the amount of total equity to be shown on the August 31 balance sheet.

Question

Figgaro Company's accounts and their balances,as of the end of August,are included below.All accounts have normal balances:
  a.Calculate net income.
b.Determine the amount of total equity to be shown on the August 31 balance sheet.

Quizplus · Accepted Answer

The Answer of Figgaro Company's accounts and their balances,as of the end of August,are included below.All accounts have normal balances:
  a.Calculate net income.
b.Determine the amount of total equity to be shown on the August 31 balance sheet.

Figgaro Company's Accounts and Their Balances,as of the End of August,are