Help with basic accounting?

timer Asked: Apr 5th, 2016

Question description

At the beginning of the year, Sielert Company had total assets of $811,020 and total liabilities of $386,080.  Answer the following:

(a) If total assets increased $169,710 during the year and total liabilities decreased $86,670, what is the amount of owner's equity at the end of the year?

(b) During the year, total liabilities increased $121,390 and owner's equity decreased $62,230.  What is the amount of total assets at the end of the year?

(c) If total assets decreased $52,070 and owner's equity increased $80,230 during the year, what is the amount of total liabilities at the end of the year?

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