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Comments : At the beginning of the year, Hernandez Company had total assets of $781,587 and total liabilities of $503,090. Answer the following;

(a) If total assets increased $163,445 during the year and total liabilities decreased $82,331, what is the amount of owner\'s equity at the end of the year?

(b) During the year, total liabilities increased $95,332 and owner\'s equity decreased $69,964 What is the amount of total assets at the end of the year?

(c) If total assets decreased $79,002 and owner\'s equity increased $118,181 during the year, what is the amount of total liabilities at the end of the year?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9969664

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