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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 $240,000 and its equity
Answer the following questions. Hint: Use the accounting equation. a. At the beginning of the year, Addison Company's assets are $240,000 and its equity is $180,000. During the year, assets increase $80,000 and liabilities increase $44,000. What is the equity at year-end? b. Office Store Co. has assets equal to $168,000 and liabilities equal to $130,000 at year-end. What is the equity for Office Store Co. at year-end? c. At the beginning of the year, Quaker Company's liabilities equal $47,000. During the year, assets increase by $60,000, and at year- end assets equal $190,000. Liabilities decrease $10,000 during the year. What are the beginning and ending amounts of equity? Complete this question by entering your answers in the tabs below. Required A Required B Required C At the beginning of the year, Addison Company's assets are $240,000 and its equity is $180,000. During the year, assets increase $80,000 and liabilities increase $44,000. What is the equity at year-end? Assets Liabilities Beginning Change $ 240,000 = 80,000 = 44,000+ Ending + Equity $ 180,000 Required A Required B >
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