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Lungos company had assets to the value of R800,000 and liabilities to the value of R500,000 at the beginning of the year. If the total

Lungos company had assets to the value of R800,000 and liabilities to the value of R500,000 at the beginning of the year. If the total assets increased by R150,000 and the total liabilities decreased by R80,000, what would be the owners equity at the end of the year? Do the calculation by using the accounting equation and show the steps you take to reach your answer.

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