Finance > EXAM > Financial Accounting Exam (Ch 1-3). Questions and Answers 100% (GRADED) (All)

Financial Accounting Exam (Ch 1-3). Questions and Answers 100% (GRADED)

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At the beginning of the year, Addison Company's assets are $186,000 and its equity is $139,500. During the year, assets increase $80,000 and liabilities increase $45,000. What is the equity at the en... d of the year? Office Store has assets equal to $250,000 and liabilities equal to $217,000 at year-end. What is the total equity for Office Store at year-end? At the beginning of the year, Quaker Company's liabilities equal $54,000. During the year, assets increase by $60,000, and at year-end assets equal $190,000. Liabilities decrease $15,000 during the year. What are the beginning and ending amounts of equity? Swiss Group reports net income of $36,000 for 2015. At the beginning of 2015, Swiss Group had $133,000 in assets. By the end of 2015 $183,000. What is Swiss Group's 2015 return on assets? On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,470 in assets to launch the business. On October 31, the company’s records show the following items and amounts. [Show More]

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