Question
At the beginning of the year, Microstrategy had total assets of 600,000 and total liabilities of 200,000. Show all steps using the accounting equation to
At the beginning of the year, Microstrategy had total assets of 600,000 and total liabilities of 200,000.
Show all steps using the accounting equation to answer the following independent questions
A) What was the owners equity at the beginning of the year?
B) During the year, total assets increased by 100,000 and total liabilities increased by $40,000 what is total equity at the end of the year?
C) If instead, total assets decreased by 30,000 and total equity increased by 50,000, what are liabilities at the end of the year?
4) If instead, total liabilities increased by 80,000 and total stockholders equity decreased by 60,000, what is the amount of total assets at the end of the year?
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