At the beginning of the year, Horizon Enterprises Ltd. had total assets of $950,000 and total liabilities of $620,000. During the year, total liabilities increased by $80,000, and stockholders' equity decreased by $50,000. What is the amount of total assets at the end of the year?

At the beginning of the year, Horizon Enterprises Ltd. had total assets of $950,000 and total liabilities of $620,000. During the year, total liabilities increased by $80,000, and stockholders' equity decreased by $50,000. What is the amount of total assets at the end of the year?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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General Accounting

At the beginning of the year, Horizon Enterprises Ltd. had total
assets of $950,000 and total liabilities of $620,000. During the
year, total liabilities increased by $80,000, and stockholders'
equity decreased by $50,000. What is the amount of total assets at
the end of the year?

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