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    skarrym's Avatar
    skarrym Posts: 1, Reputation: 1
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    #1

    Feb 19, 2011, 06:30 AM
    Equity at end of year
    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?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Feb 19, 2011, 10:10 AM

    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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