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A company has liabilities of $475000 and equity of $925000 What is the amount of its assets? 207. A company has assets of $500000 and equity of $350,000. What is the amount of liabilities

A company has liabilities of $475,000 and equity of $925,000. What is the amount of its assets?

 

 

207. A company has assets of $500,000 and equity of $350,000. What is the amount of liabilities?

 

 

 

208. At the beginning of the year, a company had $120,000 worth of liabilities. During the year, assets increased by $160,000, and at year-end they equaled $360,000. Liabilities decreased $20,000 during the year. Calculate the beginning and ending values of equity.

 

 

 

209. Annie's Attic has the following account balances for the dates given:

 

 

September 1

September 30

Cash

$40,000

60,000

Accounts Receivable

40,000

38,000

Accounts Payable

6,000

?

Its net income for September 1 through September 30 was $20,000 and there were no investments by the owners or dividends paid. Determine the equity at both September 1 and September 30.

Jan 28 2020 View more View Less

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