Help Required information Exercise 1-9 Using the accounting equation LO A1 The f

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Help Required information Exercise 1-9 Using the accounting equation LO A1 The following information applies to the questions displayed below Answer the following questions. (Hint: Use the accounting equation.) Exercise 1-9 Part a a. At the beginning of the year, Addison Company's assets are $235,000 and its equity is $176,250. During the year, assets increase $80,000 and liabilities increase $45,000. What is the equity at year-end? Equity S176,250 Lia ing S 235,000 80,000S 2 3 : of 3 ??? Next >

Explanation / Answer

a Assets Liabilities Equity Beginning 235000 58750 176250 Change 80000 45000 35000 Ending 315000 103750 211250 b Assets Liabilities Equity 245000 208000 37000 c Assets Liabilities Equity Beginning 130000 75000 55000 Change 60000 -18000 78000 Ending 190000 57000 133000

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