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    max0444's Avatar
    max0444 Posts: 2, Reputation: 1
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    #1

    Jul 24, 2012, 04:20 AM
    Accounting (help me pls)
    A company had total assets of 1,500,000 as of January 01,2010. For the year 2010,its liabilities have increase by 400,000, its owner invested an additional 100,000 and withdrew 50,000 and it had a net loss at 230,000. As of December 31,2010, it must have had total assets equal to?
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Jul 24, 2012, 02:47 PM
    calculate the net movement in equity and add/substract the movement in liabilities this will give you the movement in assets

    assets - liabilities = equity
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