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2 The Accounting Equation 5 At the beginning of the year, Addison Company's assets are $187,000 and its equity is $140,250. During the year, assets
| 2 | The Accounting Equation | 5 | ||
| At the beginning of the year, Addison Company's assets are $187,000 and its equity is $140,250. During the year, assets increase $80,000 and liabilities increase $50,000. What is the equity at year-end? | ||||
| assets | liability | Equity | ||
| Beginning | $187,000 | $46,750 | $140,250 | |
| Change | 80,000 | 50,000 | ||
| Ending | ||||
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Auditing Cases An Interactive Learning Approach
Authors: Steven M Glover, Douglas F Prawitt
4th Edition
0132423502, 978-0132423502
