Calculation of missing information used in Accounts Equation.
1). At the beginning of the year, New Wave Company\'s liabilities equal $60,000. During the year, assets increase by $80,000, and at year-end assets equal $180,000. Liabilities decrease $10,000 during the year. What are the beginning and ending amounts of equity?
2). Determine the missing amount from each of the separate situations a, b, and c below.
|
|
Assets
|
=
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Liabilities
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+
|
Equity
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|
a.
|
|
=
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$30,000
|
+
|
$65,000
|
|
b.
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$89,000
|
=
|
$22,000
|
+
|
?
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|
c.
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$132,000
|
=
|
?
|
+
|
$20,000
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