Question

A. at the beginning of the year, addison company's assets are $273,000 and its equity is $204,750. during the year, assets increase $80,000 and liabilities increase $59,000. what is the equity at year-end?

Answer 1

273,000 + 80,000 = 353,000
273,000 - 204,750 = 68,250
68,250 + 59,000 = 127,250
353,000 - 127,250 = 225,750 ending equity