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At the beginning of the year, ABC Company's liabilities equal $75,000. During the year, assets increased by $80,000, and at the end of the year, assets equal $250,000. Liabilities decrease by $25,000 during the year. Calculate the amount of equity at the end of the year. A. $50,000 B. $95,000 C. $105,000 D. $170,000 E. $200,000

At the beginning of the year, ABC Company's liabilities equal $75,000. During the year, assets increased by $80,000, and at the end of the year, assets equal $250,000. Liabilities decrease by $25,000 during the year. Calculate the amount of equity at the end of the year. A. $50,000 B. $95,000 C. $105,000 D. $170,000 E. $200,000

FINANCIAL ACCOUNTING
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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At the beginning of the year, ABC Company's liabilities equal $75,000. During the year, assets increased by $80,000, and at the end of the year, assets equal $250,000. Liabilities decrease by $25,000 during the year. Calculate the amount of equity at the end of the year. A. $50,000 B. $95,000 C. $105,000 D. $170,000 E. $200,000
Transcribed Image Text:At the beginning of the year, ABC Company's liabilities equal $75,000. During the year, assets increased by $80,000, and at the end of the year, assets equal $250,000. Liabilities decrease by $25,000 during the year. Calculate the amount of equity at the end of the year. A. $50,000 B. $95,000 C. $105,000 D. $170,000 E. $200,000
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