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    jcbo234's Avatar
    jcbo234 Posts: 1, Reputation: 1
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    #1

    Jan 18, 2016, 05:48 PM
    Accounting homework assets and liabilities






    At the end of the current year a company has total assets of $14,700 and total liabilities of $8,680.

    If during next year total assets increased by $4,300 and equity decreased by $3,500, what would be total liabilities at the end of next year?

    I'm just not sure how to go about solving this problem.
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Jan 19, 2016, 06:46 AM
    assets - liabilities = equity just plug the figures into the equation i.e. (14700+4300) - ((14700-8680)-3500) =??
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