Calculation of missing information used in accounts

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Calculation of missing information used in Accounts Equation.

1). At the beginning of the year, New Wave Company\'s liabilities equal $60,000. During the year, assets increase by $80,000, and at year-end assets equal $180,000. Liabilities decrease $10,000 during the year. What are the beginning and ending amounts of equity?

2). Determine 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

Reference no: EM13356396

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