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At the beginning of the year, quaker company's liabilities equal $42,000. during the year, assets increase by $60,000, and at year-end assets equal $190,000. liabilities decrease $12,000 during the year. what are the beginning and ending amounts of equity?

Respuesta :

Beginning equity is  $88,000 and ending equity is  $160,000.

What is beginning and ending equity?

Equity is the difference between assets and liabilities.

Equity = assets - liabilities

Beginning equity =  beginning assets - beginning liabilities

(190,000 - 60,000) - 42,000 = $88,000

Ending equity = ending assets - ending liabilities

190,000 - (42,000 - 12,000) = $160,000

To learn more about stockholder’s equity, please check: https://brainly.com/question/26210654

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