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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)
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 year-end? for this general account que

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?
Transcribed Image Text: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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