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Blossom Company is owned by Rachel Blossom. The company had total assets of $ 8 5 5 , 0 0 0 and total liabilities of
Blossom Company is owned by Rachel Blossom. The company had total assets of $ and total liabilities of $ at the beginning of the year. Answer each of the following independent questions:
a During the year, total assets increased by $ and total liabilities decreased by $ What is the amount of owner's equity at the end of the year?Owner's equity $
b Total liabilities decreased by $ during the year. The company incurred a loss of $ R Blossom made an additional investment of $ and made no withdrawals. What is the amount of total assets at the end of the year?
Total assets $
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