ACCT-1080 Summer 2020 - Chirco Homework: Week One: Chapter 1: Exercises Score: 0.6 of 1 pt 3 of 6 (3 complete) % S1-6 (similar to) Kenmore Handyman Services has total assets for the year of $16,400 and total liabilities of $10,140 Requirements 1. Use the accounting equation to solve for equity. 2. If next year assets increased by $3,300 and equity decreased by $2,700, what would be the amount of total liabilities for Kenmore Handyman Services? Requirement 1. Use the accounting equation to solve for equity. Begin by solving for the accounting equation. Then use the formula to solve for equity. Assets Liabilities Equity The company has equity of $ 6,260 Requirement 2. If next year assets increased by $3,300 and equity decreased by $2,700, what would be the amount of total liabilities for Kenmore Handyman Services? The company has liabilities of $ Enter any number in the edit fields and then click Check