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At the beginning of the year, Addison Company's assets are $222,000 and its equity is $166,500. During the year, assets increase by $80,000 and liabilities increase by $46,000. What is the equity at the end of the year?

At the beginning of the year, Addison Company's assets are $222,000 and its equity is $166,500. During the year, assets increase by $80,000 and liabilities increase by $46,000. What is the equity at the end of the year?

Intermediate Financial Management (MindTap Course List)
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter7: Analysis Of Financial Statements
Section: Chapter Questions
Problem 12P: The Kretovich Company had a quick ratio of 1.4, a current ratio of 3.0, a days’ sales outstanding of...
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What is the equity at the end of the year on these general accounting question?

At the beginning of the year, Addison Company's assets are $222,000 and its equity is $166,500. During the year, assets increase by $80,000 and liabilities increase by $46,000. What is the equity at the end of the year?
Transcribed Image Text:At the beginning of the year, Addison Company's assets are $222,000 and its equity is $166,500. During the year, assets increase by $80,000 and liabilities increase by $46,000. What is the equity at the end of the year?
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