Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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What is the beginning and ending amounts?

At the beginning of the year, Keller Company's liabilities
equal $55,000. During the year, assets increase by
$85,000, and at year-end assets equal $190,000.
Liabilities decrease by $10,000 during the year. What is
the beginning and ending amounts of equity?
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Transcribed Image Text:At the beginning of the year, Keller Company's liabilities equal $55,000. During the year, assets increase by $85,000, and at year-end assets equal $190,000. Liabilities decrease by $10,000 during the year. What is the beginning and ending amounts of equity?
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