A В C Assets Liabilities Equity $ 45,000 (b) 40,000 $ (0) $ 20,000 3. 100,000 34,000 154,000 (c) Answer the following questions. Hint: Use the accounting equation. a. At the beginning of the year, Addison Company's assets are $300,000 and its equity is $100,000. During the year, assets increase $80,000 and liabilities increase $50,000. What is the equity at year-end? b. Office Store has assets equal to $123,000 and liabilities equal to $47,000 at year-end. What is the equity for Office Store at year-end? c. At the beginning of the year, Quaker Company's liabilities equal $70,000. During the year, assets in- crease by $60,000, and at year-end assets equal $190,000. Liabilities decrease $5,000 during the year. What are the beginning and ending amounts of equity?

A В C Assets Liabilities Equity $ 45,000 (b) 40,000 $ (0) $ 20,000 3. 100,000 34,000 154,000 (c) Answer the following questions. Hint: Use the accounting equation. a. At the beginning of the year, Addison Company's assets are $300,000 and its equity is $100,000. During the year, assets increase $80,000 and liabilities increase $50,000. What is the equity at year-end? b. Office Store has assets equal to $123,000 and liabilities equal to $47,000 at year-end. What is the equity for Office Store at year-end? c. At the beginning of the year, Quaker Company's liabilities equal $70,000. During the year, assets in- crease by $60,000, and at year-end assets equal $190,000. Liabilities decrease $5,000 during the year. What are the beginning and ending amounts of equity?

Name: Determine the missing amount from each of the separate situations a, b
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Description: Determine the missing amount from each of the separate situations a, b, and c below. AВCAssetsLiabilitiesEquity$ 45,000(b)40,000$ (0)$ 20,0003.100,00034,000154,000(c)Answer the following questions. Hint: Use the accounting equation.a. At the beginnin

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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