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Tania08
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At the beginning of the year, Addison Company's assets are $273,000 and its equity is $204,750. During the year, assets increase $80,000 and liabilities increase $42,000. What is the equity at the end of the year?
 2 years ago
 2 years ago
Tania08 Group Title
At the beginning of the year, Addison Company's assets are $273,000 and its equity is $204,750. During the year, assets increase $80,000 and liabilities increase $42,000. What is the equity at the end of the year?
 2 years ago
 2 years ago

This Question is Closed

sandra Group TitleBest ResponseYou've already chosen the best response.1
The formula for "equity" is assets  liabilities?
 2 years ago

ash2326 Group TitleBest ResponseYou've already chosen the best response.0
Assets liability= equity Let's find the liability at the beginning of the year 273000liability=204750 liabilities=$68250 Now assets increase 80,000 so Present assets =273000+80000=$351000 Liabilities increased by 42000 Present Liabilities = 68250+42000= $110250 Equity=AssetsLiabilities Equity=351000110250= $240750
 2 years ago

RahulZ Group TitleBest ResponseYou've already chosen the best response.0
Hope you get the help Tania08
 2 years ago

Tania08 Group TitleBest ResponseYou've already chosen the best response.0
I hope so too!
 2 years ago

Tania08 Group TitleBest ResponseYou've already chosen the best response.0
So the answer is $240750
 2 years ago
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