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At the begining of the year, company had total assets of 800,000 and total liabilities of 500,000. Answer the following:

(a) if the total assets increased of 150,00 and total liabilities decreased 80,000 what is the amount of equity?

(b) during the year total liabilities increased 100,000 and owners equity decreased 70,000 what is total assets?

(c)if total assets decreased 80,000 and owners equity increased 120,000 what is total liabilities?

Accounting Basics, Accounting

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