c. At the beginning of the year, Quaker Company's liabilities equal $62,000. During the year, assets increase by $60,000, and at year-end assets equal $190,000. Liabilities decrease $11,000 during the year. What are the beginning and ending amounts of equity?
c. At the beginning of the year, Quaker Company's liabilities equal $62,000. During the year, assets increase by $60,000, and at year-end assets equal $190,000. Liabilities decrease $11,000 during the year. What are the beginning and ending amounts of equity?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Subject-accounting
Transcribed Image Text:i need the ones with the red x answered
b. Office Store Company has assets equal to $220,000 and liabilities equal to $192,000 at year-end. What is the equity for Office
Store Company at year-end?
c. At the beginning of the year, Quaker Company's liabilities equal $62,000. During the year, assets increase by $60,000, and at
year-end assets equal $190,000. Liabilities decrease $11,000 during the year. What are the beginning and ending amounts of
equity?
Complete this question by entering your answers in the tabs below.
Required A Required B Required C
At the beginning of the year, Quaker Company's liabilities equal $62,000. During the year, assets increase by $60,000, and at
year-end assets equal $190,000. Liabilities decrease $11,000 during the year. What are the beginning and ending amounts of
equity?
Assets
Beginning S 130,000 -
Change
Ending
60,000 B
190,000 m
S
W
Answer is not complete.
$
+
Liabilities
62,000
(11,000) +
73,000+ $
+
S
Equity
S
$
< Required B
68,000
49,000
117,000x
Required C >
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