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Answer the following questions. Hint. Use the accounting equation. a. At the beginning of the year, Addison Company's assets are $251,000 and its equity
Answer the following questions. Hint. Use the accounting equation. a. At the beginning of the year, Addison Company's assets are $251,000 and its equity is $188,250. During the year, assets increase $80,000 and liabilities increase $55,000. What is the equity at year- end? b. Office Store Company has assets equal to $207,000 and liabilities equal to $170,000 at year-end. What is the equity for Office Store Company at year-end? c. At the beginning of the year, Quaker Company's liabilities equal $80,000. During the year, assets increase by $60,000, and at year-end assets equal $190,000. Liabilities decrease $17,000 during the year. What are the beginning and ending amounts of equity? Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required C At the beginning of the year, Quaker Company's liabilities equal $80,000. During the year, assets increase by year-end assets equal $190,000. Liabilities decrease $17,000 during the year. What are the beginning and en equity? Assets Liabilities Equity Beginning S 183,000 $ 80,000 + $ 103,000 Change 60,000 # (17,000) + Ending $ 190,000 S 63,000 + $ 127,000
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