Horizon Ltd. had total assets of $80,000 and total liabilities of $50,000 at the beginning of the year. During the year, the business recorded $120,000 in revenues, $70,000 in expenses, and distributed $15,000 in dividends. What is the equity at the end of the year?

Horizon Ltd. had total assets of $80,000 and total liabilities of $50,000 at the beginning of the year. During the year, the business recorded $120,000 in revenues, $70,000 in expenses, and distributed $15,000 in dividends. What is the equity 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

Financial Accounting Question

Horizon Ltd. had total assets of $80,000 and total
liabilities of $50,000 at the beginning of the year. During
the year, the business recorded $120,000 in revenues,
$70,000 in expenses, and distributed $15,000 in dividends.
What is the equity at the end of the year?

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