Short Accounting questions

$4.00

Description

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

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