The shareholders equity of Diakovsky Company at the beginning and end of 20X6 totaled $15,000 and $20,000,

Question:

The shareholders’ equity of Diakovsky Company at the beginning and end of 20X6 totaled $15,000 and $20,000, respectively. Assets at the beginning of 2010 were $27,000.

If the liabilities of Diakovsky Company increased by $9,000 in 2010, how much were total assets at the end of 20X6? Use the accounting equation.

a. $45,000

c. $50,000

b. $34,000

d. $41,000

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