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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Question

What is the amount of total assets at the end of the year on these financial accounting question?

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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