... liabilities of $279,000 what would the following answers be.
a. liabilities increased $110,000 and owner's equity decreased $71000. What is the amount of assets at the end of year?
b. If assets decreased $80000 and owners equity increased $84000 what is the amount of total liabilities?
Google - At the beginning of the year, Gilles Company had total assets of $732,000 and total?
- Posted:
- 3+ months ago by fhopgood
- Topics:
- company, year, owner, beginning, gilles, google, answer, years
Details:
Answers (1)
A = L + OE
732,000 = 279,000 + OE
453,000 = OE
a) 732,000 + (110,000 - 71,000) = (279,000 + 110,000) + (453,000 - 71,000)
Assets = 771,000
b) 732,000 - 80,000 = (279,000 + L) + (453,000 + 84,000)
652,000 = (279,000 + L) + 537,000
115,000 = 279,000 + L
-164,000 = L
Liabilities = 279,000 - 164,000 = 115,000