At the beginning of the year, Addison Company's assets are $188,000 and its equity is $141,000. During the year, assets increase $80,000 and liabilities increase $47,000. What is the equity at year-end?
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Answer:
equity at year-end= $174,000
Assets | = | Liabilities | + | Equity | ||
A | B | C=A-B | ||||
1 | Beginning | 1,88,000 | = | 47,000 | + | 1,41,000 |
2 | Change | 80,000 | = | 47,000 | + | 33,000 |
3=1+2 | Ending | 2,68,000 | = | 94,000 | + | 1,74,000 |
1)47000=188000-141000 | ||||||
2) 33000=80000-47000 |
At the beginning of the year, Addison Company's assets are $188,000 and its equity is $141,000....
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