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1) At the starting of the year, New Wave Company's liabilities equal $60,000. In the year, assets increase by $80,000, and at year-end assets equal $180,000. Liabilities decrease $10,000 in the year. Compute the beginning and ending amounts of equity?

2)  Find out the missing amount from each of the separate situations a, b, and c below.

 

Assets

=

Liabilities

+

Equity

a.

 

=

$30,000

+

$65,000

b.

$89,000

=

$22,000

+

?

c.

$132,000

=

?

+

$20,000

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M921967

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