Beginning of year company has $241000 in assets, they have $180750 in equity, during year they gain $80000,more in assets, they have $47000 in liabilities what is equity at end of year?
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Beginning of year company has $241000 in assets, they have $180750 in equity, during year they gain $80000,more in assets, they have $47000 in liabilities what is equity at end of year?
You need to take you beginning assets + your gains in assets = Your ending asset balance. Next you take your ending asset balance - your liabilities = your ending equity
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