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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?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 >
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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