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At the beginning of the year, Ivanhoe Company had total assets of $715,000 and total liabilities of $258,000. Answer the following independent questions. (a) If
At the beginning of the year, Ivanhoe Company had total assets of $715,000 and total liabilities of $258,000. Answer the following independent questions. (a) If total assets increased $145,000 during the year and total liabilities decreased $83,000, what is the amount of owner's equity at the end of the year? $ Owner's equity (b) During the year, total liabilities increased $136,000 and owner's equity decreased $61,000. What is the amount of total assets at the end of the year? $ Total assets (c) If total assets decreased $88,000 and owner's equity increased $82,000 during the year, what is the amount of total liabilities at the end of the year? $ Total liabilities
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