Amount of equity for quantum industries? At the beginning of the year, QuantumIndustriesliabilitieshadof$85,000. During the year, assetsincreased by $75,000, and at year-end,assetstotaled$210,000.Liabilities decreased by $14,000during the year.What are the beginning and endingamounts of equity for QuantumIndustries?

Explanation of Equity:Equity represents the ownership interest in a company, calculated as the…

Answered: At the beginning of the year, Quantum…

Cornerstones of Financial Accounting

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ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

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At the beginning of the year, Quantum Industries liabilities had of $85,000. During the year, assets increased by $75,000, and at year- end, assets totaled $210,000. Liabilities decreased by $14,000 during the year. What are the beginning and ending amounts of equity for Quantum Industries?