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Short Accounting questions

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At the beginning of the year, Sielert Company had total assets of $800,000 and total liabilities of $300,000. Answer the following questions;a) If total assets increased $150,000 during the year and total liabilities decreased $80,000, what is the amount of owner?s equity at the end of the year?;(b) During the year, total liabilities increased $100,000 and owner?s equity decreased $70,000. What is the amount of total assets at the end of the year?;(c) If total assets decreased $80,000 and owner?s equity increased $120,000 during the year, what is the amount of total liabilities at the end of the year

 

Paper#27889 | Written in 18-Jul-2015

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