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At the beginning of the year, Sunland company had total assets of $879,000 and total liabilities of $337,000. Answer the following questions (a) If total
At the beginning of the year, Sunland company had total assets of $879,000 and total liabilities of $337,000. Answer the following questions
(a) If total assets increased $124,000 during the year and total liabilities decreased $62,000, what is the amount of owner's equity at the end of the year? Owner's equity \$ (b) During the year, total liabilities increased $128,000 and owner's equity decreased $96,000. What is the amount of total assets at the end of the year? Assets $ (c) If total assets decreased $96,000 and owner's equity increased $83,000 during the year, what is the amount of total liabilities at the end of the year? Liabilities \$Step by Step Solution
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