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Question 1: Unique' is a consulting firm providing consultation service for businesses. At the end of its accounting period, December 31, 2009. Unique' has assets

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Question 1: Unique' is a consulting firm providing consultation service for businesses. At the end of its accounting period, December 31, 2009. Unique' has assets of 760,000 and liabilities of 240,000. Use the accounting equation to calculate the answers in each of the following: a) Unique's capital, as of December 31, 2009. b) Uniques's, capital, as of December 31, 2010, assuming that assets increased by 120,000 and liabilities increased by 72,000 during 2010. c) Unique's capital, as of December 31, 2010, assuming that assets decreased by 60,000 and liabilities increased by 21,600 during 2010 d) Unique's capital, as of December 31, 2010, assuming that assets increased by 100,000 and liabilities decreased by 38,400 during 2010 e) Net income during 2010, assuming that as of December 31, 2010, assets were 960,000, liabilities were 156,000, and there were no additional investments or withdrawals

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