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6. At the beginning of the year the company has Owners' Equity of $100,000. During the year the company increases the Owners' Equity by $25,000.
| 6. | At the beginning of the year the company has Owners' Equity of $100,000. During the year the company increases the Owners' Equity by $25,000. At the beginning of the year the company has Liabilities of $50,000 and decreases Liabilities $10,000 during the year. What are Assets at the end of the year? | Increase/Decrease | |||
| 7. | At the end of the year the company has Owners' Equity of $100,000 and Liabilities of $75,000. At the beginning of the year the company has Assets of $150,000 how much did Assets change by the end of the year? Did Assets increase or Decrease? | ||||
| 8. | At the end of the year the company has Assets of $100,000 and Liabilities of $75,000. At the beginning of the year the company has Owners' Equity of $50,000 how much did Owners' Equity change by the end of the year? Did Owner's Equity increase or Decrease? | ||||
| 9. | At the end of the year the company has Liabilities of $25,000 and Owners' Equity of $125,000. At the beginning of the year the company has Assets of $150,000 how much did Owners' Equity change by the end of the year? Did Assets increase or Decrease? |
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Contemporary Auditing Real Issues And Cases
Authors: Michael C. Knapp
6th Edition
0324303254, 9780324303254
