Question
At the beginning of the year Hellena Ltd. had total assets of $536,000 and total equity of $322,000. By the end of the year Hellena
At the beginning of the year Hellena Ltd. had total assets of $536,000 and total equity of $322,000.
By the end of the year Hellena had total assets of $505,000 and total liabilities of $120,000.
During the year the business had new contributions by the owners of $22,000, expenses of $452,000, and revenues of $511,000.
Solve for all the unknown numbers and answer the following questions.
What was the company's ending equity?
What was the company's beginning total liabilities?
What was the change in liabilities during the year?
If your answer is a decrease in liabilities, enter your answer as a negative number.
For example, if your answer is a decrease of $1,000, enter -1000
What was the amount of dividends paid during the year?
Enter your answer as a NEGATIVE NUMBER.
For example, if your answer is $900 of dividends were paid, enter -900
What was the company's profit for the period?
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