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At the beginning of the year, Giles Company had total assets of 746,000 and total liabilities of 361,000.
At the beginning of the year, Giles Company had total assets of 746,000 and total liabilities of 361,000.
1.) If total assets increased $166,000 during the year and total liabilities decreased 84,000, what is the amount of owners equity at the end of the year?
2.) During the year, total liablities increased $120,000 and owners equity decreased 91,000. What is the amount of total assets at the end of the year?
3.) If total assets decreased $88,000 and owners equity increased $97,000 during the year, what is the amount of total liabilities at the end of the year?
