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At the beginning of the year, Cullumber Company had total assets of $732,000 and total liabilities of $279,000. Answer the following independent questions. (a) If
At the beginning of the year, Cullumber Company had total assets of $732,000 and total liabilities of $279,000. Answer the following independent questions. (a) If total assets increased $139,000 during the year and total liabilities decreased $85,000, what is the amount of owner's equity at the end of the year? $ Owner's equity (b) During the year, total liabilities increased $110,000 and owner's equity decreased $71,000. What is the amount of total assets at the end of the year? $ Total assets (c) If total assets decreased $80,000 and owner's equity increased $84,000 during the year, what is the amount of total liabilities at the end of the year? $ Total liabilities e Textbook and Media
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