Question
At the beginning of the year, Gilles Company had total assets of $ 800,000 and total liabilities of $ 300,000. Answer the following questions. (a)
At the beginning of the year, Gilles Company had total assets of $ 800,000 and total liabilities of $ 300,000. Answer the following questions. (a) If total assets increased $ 150,000 during the year and total liabilities decreased $ 60,000, what is the amount of owners equity at the end of the year?
Owners equity | $ enter the owners equity amount in dollars |
(b) During the year, total liabilities increased $ 100,000 and owners equity decreased $ 70,000. What is the amount of total assets at the end of the year?
Assets | $ enter the assets amount in dollars |
(c) If total assets decreased $ 80,000 and owners equity increased $ 120,000 during the year, what is the amount of total liabilities at the end of the year?
Liabilities | $ enter the liabilities amount in dollars |
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