samsung has beginning equity of $52,000 and net income of $23,000. the company has no other transactions…

samsung has beginning equity of $52,000 and net income of $23,000. the company has no other transactions impacting equity. calculate the ending equity. multiple choice $75,000 $99,000 $5,000 $(5,000) $29,000

samsung has beginning equity of $52,000 and net income of $23,000. the company has no other transactions impacting equity. calculate the ending equity. multiple choice $75,000 $99,000 $5,000 $(5,000) $29,000

Answer

Explanation:

Step1: Recall equity - net income relationship

Ending equity = Beginning equity+Net income

Step2: Substitute given values

Ending equity = $52000 + 23000$

Step3: Calculate the result

Ending equity = $75000$

Answer:

A. $75,000$