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Tania08

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
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  1. sandra
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    The formula for "equity" is assets - liabilities?

    • 2 years ago
  2. Tania08
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    Yes.

    • 2 years ago
  3. ash2326
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    Assets- liability= equity Let's find the liability at the beginning of the year 273000-liability=204750 liabilities=$68250 Now assets increase 80,000 so Present assets =273000+80000=$351000 Liabilities increased by 42000 Present Liabilities = 68250+42000= $110250 Equity=Assets-Liabilities Equity=351000-110250= $240750

    • 2 years ago
  4. RahulZ
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    Hope you get the help Tania08

    • 2 years ago
  5. Tania08
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    I hope so too!

    • 2 years ago
  6. Tania08
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    So the answer is $240750

    • 2 years ago
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