At the end of the year, a business' total assets are ($ 43000) and its total owner's
Question:
At the end of the year, a business' total assets are \(\$ 43000\) and its total owner's equity is \(\$ 22000\).
During the year, the business' liabilities decreased by \(\$ 8000\) while its assets increased by \(\$ 4000\).
Required:
Determine the business':
a ending total liabilities b beginning total assets c beginning owner's equity.
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Related Book For
Accounting Information For Business Decisions
ISBN: 9780170253703
2nd Edition
Authors: Billie Cunningham, Loren A. Nikolai, John Bazley, Marie Kavanagh, Geoff Slaughter, Sharelle Simmons
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