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Beginning and ending amounts of equity

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Reference no: EM13893761

Answer the following questions.

a. Office Store has assets equal to $123,000 and liabilities equal to $47,000 at year end. What is the total equity for Office Store at year end?
b. At the beginning of the year, Addison Company's assets are $300,000 and its equity is $100,000. During the year, assets increase $80,000 and liabilities increase $50,000. What is the equity at the end of the year?
c. At the beginning of the year, Quaker Company's liabilities equal $70,000. During the year, assets increase by $60,000, and at year end assets equal $190,000. Liabilities decrease $5,000 during the year. What are the beginning and ending amounts of equity?

Reference no: EM13893761

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