Business, 20.01.2022 08:00 briceevans32

Answer the following questions. Hint: Use the accounting equation. a. At the beginning of the year, Addison Company’s assets are $300,000 and its equity is $100,000. During the year, assets increase $80,000 and liabilities increase $50,000. What is the equity at year-end? b. Office Store Co. has assets equal to $123,000 and liabilities equal to $47,000 at year-end. What is the equity for Office Store Co. at year-end? c. At the beginning of the year, Quaker Company’s liabilities equal $70,000. During the year, assets in-crease by $60,000, and at year-end assets equal $190,000. Liabilities decrease $5,000 during the year. What are the beginning and ending amounts of equity?Check (c) Beg. equity, $60,000

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