[soccer17]

At the beginning of the year, Addison Company's assets are $243,000 and its equity is $182,250. During the year, assets increase $80,000 and liabilities increase $44,000. What is the equity at the end of the year?

[pready]

You have to know the account equation:
Assets=Liabilities+Shareholders' Equity

You need to calculate your ending Assets and Liabilities, then use the equation to figure out the ending Equity.
Shareholders' Equity=Assets-Liabilities

[soccer17]

I am wondering if you or any body kno's the answer to this problem because I want to chack and see if I got it right.

[ArcSine]

Be glad to... what did you get? Post your answer, and we can tell you if you're on track or not.

[soccer17]

97,000 I don't think that's right though

[ArcSine]

Nope, give it another go. All you need is right there in Pready's first post:

Assets = Liabilities + Equity

The problem gives you two of the three ingredients for the beginning of the year--then you find the third.

Then use that same equation again for the end of the year, after figuring in the changes to assets and liabilities that you're given.

[morgaine300]

It helps if you also show your work, not just your answer. That way we can see where you are going wrong.