Answer the following questions. Hint Use the accounting equation. a. At the beginning of the year, Addison Company's assets are $169,000 and its equity is $126,750. During the year, assets increase $80,000 and liabilities increase $60,000. What is the equity at year-end? b. Office Store Company has assets equal to $181,000 and liabilities equal to $154,000 at year-end. What is the equity for Office Store Company at year-end? c. At the beginning of the year, Quaker Company's liabilities equal $50,000. During the year, assets increase by $60,000, and at year-end assets equal $190,000. Liabilities decrease $10,000 during the year. What are the beginning and ending amounts of equity?

Using the accounting equation Thompson Handyman Services has total assets for the year of $18,400 and total liabilities of $9,050. Requirements Use the accounting equation to solve for equity. If next year's assets increased by $4,300 and equity decreased by $3,850, what would be the amount of total liabilities for Thompson Handyman Services?

At the beginning of the current fiscal year, the balance sheet of Hughey Incorporated showed stockholders' equity of $519,000. During the year, liabilities increased by $23,000 to $224,000, paid-in capital increased by $38,000 to $176,000, and assets increased by $269,000. Dividends declared and paid during the year were $51,000. Required: Calculate net income or loss for the year. Note: Amounts to be deducted should be indicated with a minus sign. Beginning Changes Changes Ending Assets = 269,000 = Liabilities 23,000 + Stockholders' Equity RE PIC + 38,000 + $ 224,000+ $ 176,000 + $519,000 SE

WD Corporation reports the following year-end balance sheet data. The company's debt-to-equity ratio equals:   Cash $ 42,000 Current liabilities $ 77,000 Accounts receivable 57,000 Long-term liabilities 28,000 Inventory 62,000 Common stock 102,000 Equipment 147,000 Retained earnings 101,000 Total assets $ 308,000 Total liabilities and equity $ 308,000

At the beginning of the current fiscal year, the balance sheet of Hughey Inc. showed stockholders' equity of $520,000. During the year. liabilities increased by $26,000 to $222,000; paid-in capital increased by $34,000 to $178,000; and assets increased by $252,000. Dividends declared and paid during the year were $62,000. Required: Calculate net income or loss for the year. (Amounts to be deducted should be Indicated with a minus sign.) Beginning Changes Ending Assets 252,000 = Liabilities + + 26,000+ Stockholders' Equity RE PIC + 34,000 + $ 222,000+ $ 178,000+ $520,000 SE

How do you calculate the first years net income under the cash basis of accoun

. a. At the beginning of the year, Addison Company's assets are $286,000 and its equity is $214,500. During the year, assets. increase $80,000 and liabilities increase $42,000. What is the equity at year-end? b. Office Store Company has assets equal to $207,000 and liabilities equal to $174,000 at year-end. What is the equity for Office Store Company at year-end? c. At the beginning of the year, Quaker Company's liabilities equal $52,000, During the year, assets increase by $60,000, and at year-end assets equal $190,000. Liabilities decrease $19,000 during the year. What are the beginning and ending amounts of equity? Complete this question by entering your answers in the tabs below. Required A Required Required C At the beginning of the year, Addison Company's assets are $286,000 and its equity is $214,500. During the year, assets increase $80,000 and liabilities increase $42,000. What is the equity at year-end? Asta Equity Liabilities + 71.500+ 5 42.000 Beginning $ 266,000S Change…

Last year, McGinley Company had total equity of $600,000, a return on assets of 10%, and a return on equity of 15%.  What was the amount of McGinley's total assets?

am.104.

The financial statements for Castile Products, Incorporated, are given below: Castile Products, Incorporated Balance Sheet December 31 Assets Current assets: Cash Accounts receivable, net Merchandise inventory Prepaid expenses Total current assets Property and equipment, net Total assets Liabilities and Stockholders' Equity Liabilities: Current liabilities Bonds payable, 10% Total liabilities. Stockholders equity Connon stock, $5 per value. Retained earnings Total stockholders equity Total liabilities and stockholders' equity Castile Products, Incorporated Income Statement For the Year Ended December 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Interest expense Net incone before taxes Income taxes (30%) Net income $24,000 230,000 370,000 9,000 633,000 860,000 $1,493,000 $ 290,000 320,000 610,000 $150,000. 733,000 883,000 $1,493,000 $ 2,290,000 1,220,000 1,070,000 580,000 490,000 32,000 458,000 137,400 $ 320,600