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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&#39;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