In the year assets increase by 80000 and at year-end, Ask an Expert

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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

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M921967

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