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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 $196,000 and its equity is
Answer the following questions. Hint Use the accounting equation. a. At the beginning of the year, Addison Company's assets are $196,000 and its equity is $147,000. During the year, assets increase $80,000 and liabilities increase $57,000. What is the equity at year-end? b. Office Store Company has assets equal to $244,000 and liabilities equal to $210,000 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 $72,000. 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? 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 $196,000 and its equity is $147,000. During the year, assets increase $80,000 and liabilities increase $57,000. What is the equity at year-end? Liabilities + Assets $ 196,000 = 80,000 Equity $ 147 000 Beginning Change Ending + 57.000 + + Required B >
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