Exercise 1-10 (Algo) Using the accounting equation LO A1 Answer the following questions. Hint. Use the accounting equation. a. At the beginning of the year, Addison Company's assets are $195,000 and...

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Exercise 1-10 (Algo) Using the accounting equation LO A1<br>Answer the following questions. Hint. Use the accounting equation.<br>a. At the beginning of the year, Addison Company's assets are $195,000 and its equity is $146,250. During the year, assets increase<br>$80,000 and liabilities increase $56,000. What is the equity at year-end?<br>b. Office Store Company has assets equal to $177,000 and liabilities equal to $147,000 at year-end. What is the equity for Office Store<br>Company at year-end?<br>c. At the beginning of the year, Quaker Company's liabilities equal $64,000. During the year, assets increase by $60,000, and at year-<br>end assets equal $190,000. Liabilities decrease $18,000 during the year. What are the beginning and ending amounts of equity?<br>Complete this questlon by entering your answers In the tabs below.<br>Required A<br>Required B<br>Required C<br>At the beginning of the year, Addison Company's assets are $195,000 and its equity is $146,250. During the year, assets<br>increase $80,000 and liabilities increase $56,000. What is the equity at year-end?<br>Assets<br>Liabilities<br>Equity<br>Beginning<br>24<br>195,000 =<br>%$4<br>146,250<br>Change<br>80,000 =<br>56,000 +<br>Ending<br>

Extracted text: Exercise 1-10 (Algo) Using the accounting equation LO A1 Answer the following questions. Hint. Use the accounting equation. a. At the beginning of the year, Addison Company's assets are $195,000 and its equity is $146,250. During the year, assets increase $80,000 and liabilities increase $56,000. What is the equity at year-end? b. Office Store Company has assets equal to $177,000 and liabilities equal to $147,000 at year-end. What is the equity for Office Store Company at year-end? c. At the beginning of the year, Quaker Company's liabilities equal $64,000. During the year, assets increase by $60,000, and at year- end assets equal $190,000. Liabilities decrease $18,000 during the year. What are the beginning and ending amounts of equity? Complete this questlon by entering your answers In the tabs below. Required A Required B Required C At the beginning of the year, Addison Company's assets are $195,000 and its equity is $146,250. During the year, assets increase $80,000 and liabilities increase $56,000. What is the equity at year-end? Assets Liabilities Equity Beginning 24 195,000 = %$4 146,250 Change 80,000 = 56,000 + Ending

Jun 11, 2022
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