balvinder123
Sep 15, 2013, 06:14 PM
At the beginning of the year, Lam Ltd. Had total assets of $815,510 and total liabilities of $519,760.
If Lam’s total assets decreased by $81,240 during the year and shareholders’ equity increased by $119,450, what is the amount of total liabilities at the end of the year?
I tried everything to solve this question but I just can't get it right.. I have tried the formula A=L+OE in every combination but I still get it wrong please help thanks.
If Lam’s total assets decreased by $81,240 during the year and shareholders’ equity increased by $119,450, what is the amount of total liabilities at the end of the year?
I tried everything to solve this question but I just can't get it right.. I have tried the formula A=L+OE in every combination but I still get it wrong please help thanks.