At the beginning of the year, Addison company's assets are $299,000 and it's equity is $224,250. During the year, assets increase $80,000 and liabilities increase $47,000. What is the equity at year-end? Assets = Liabilities + Equity Beginning $299,000 = + $224,250 Change 80,000 = 47,000 + Ending = +

At the beginning of the year, Addison company's assets are $299,000 and it's equity is $224,250. During the year, assets increase $80,000 and liabilities increase $47,000. What is the equity at year-end? Assets = Liabilities + Equity Beginning $299,000 = + $224,250 Change 80,000 = 47,000 + Ending = +

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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