Burlin Company starts the year with $100,000 in assets and $80,000in liabilities. Net income for the year is $25,000 and no dividendsare paid. How much is owners' equity at the end of the year?
Chapman Inc. doubles the amount of its assets from the beginning tothe end of the year. Liabilities at the end of the year amount to$40,000, and owners' equity is $20,000. What ia the amount ofChapman's asset at the end beginning of the year?
During the year, the liabilities of Dixon Enterprises triple inamount. Assets at the beginning of the year amount to $30,000, andowners' equity is $10,000. What is the amount of liabilities at the end of the year?