At the beginning of the year Unique Ltd. had total assets of $623,000 and totalliabilities of $349,000.During the year Unique collected new contributions by owners of $21,000, paiddividends of $14,000 and had total expenses of $362,000..At the end of the year Unique has total assets of $672,000 and total equity of$377,000.Solve for all the unknown numbers and answer the following questions.What was the company's beginning total equity?SYA

Company's beginning total equity is $ 274,000Explanation:1) Company's beginning total equity =…

Answered: At the beginning of the year Unique…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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26 )
At the beginning of the year Unique Ltd. had total assets of $623,000 and total liabilities of $349,000.During the year Unique collected new contributions by owners of $21,000, paid dividends of $14,000 and had total expenses of $362,000.At the end of the year Unique has total assets of $672,000 and total equity of $377,000.What was the company's beginning total equity? What was the change in liabilities during the year? What was the company's ending total liabilities? What was the company's profit for the year? What is the total revenues earned during the year?
Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020): Borrowed $18,279 from banks due in two years. Purchased additional investments for $22,200 cash; one-fifth were long term and the rest were short term. Purchased property, plant, and equipment; paid $9,584 in cash and signed a short-term note for $1,422. Issued additional shares of common stock for $1,481 in cash; total par value was $1 and the rest was in excess of par value. Sold short-term investments costing $19,021 for $19,021 cash. Declared $11,138 in dividends to be paid at the beginning of the next fiscal year. Prepare a classified balance sheet for Orange at September 26, 2020, based on these transactions. please complete this with working and show how did you get the number with other work answer in text thanks
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