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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 $195,000 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 $195,000 and its equity is $146,250. During the year, assets increase $80,000 and liabilities increase $40,000. What is the equity at year-end? b. Office Store Company has assets equal to $210,000 and liabilities equal to $173,000 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 $76,000. During the year, assets increase by $60,000, and at year-end assets equal $190,000. Liabilities decrease $12,000 during the year. What are the beginning and ending amounts of equity? Complete this question by entering your answers in the tabs felow. Required A Required B Required C At the beginning of the year, Addison Company's assets are $195,000 and its equity is $146,250. During the year, assets increase $80,000 and liabilities increase $40,000. What is the equity at year-end? Beginning Change Ending S = Liabilities 195,000 = 80,000 = Assets = + + $ 40,000+ Equity
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