Homework Answers
| Assets | Amount | |
| Closing balance | 190,000 | |
| Change during the year | (60,000) | |
| Beginning balance | 130,000 | |
| Liabilities | Amount | |
| Beginning balance | 73,000 | |
| Change during the year | (10,000) | |
| Closing balance | 63,000 | |
| Equity | ||
| Beginning | Closing | |
| Assets | 130,000 | 190,000 |
| Liabilities | (73,000) | (63,000) |
| Equity | 57,000 | 127,000 |
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