At the beginning of the year, Addison Company's assets are $255,000 and its equity is $191,250. During the year, assets increased by $80,000, and liabilities increase by $56,000. What is the equity at year-end?

At the beginning of the year, Addison Company's assets are $255,000 and its equity is $191,250. During the year, assets increased by $80,000, and liabilities increase by $56,000. What is the equity at year-end?

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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Question

What is the equity at year-end?

At the beginning of the year, Addison Company's assets are
$255,000 and its equity is $191,250. During the year, assets
increased by $80,000, and liabilities increase by $56,000.
What is the equity at year-end?

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