At the beginning of the year, Quasar Company's liabilities equal $51,000. During the year, assets increase by $60,000, and at year-end assets equal $190,000. Liabilities decrease $10,000 during the year. What are the beginning and ending amounts of equity?
At the beginning of the year, Quasar Company's liabilities equal $51,000. During the year, assets increase by $60,000, and at year-end assets equal $190,000. Liabilities decrease $10,000 during the year. [ The beginning amount of equity is $79,000 and the ending amount of equity is $149,000. ]
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Asked 1/22/2014 3:22:43 PM
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