At the end of an accounting period, a company's liabilities equaled $295,000, and owner's equity equaled $210,000. How much were the company's assets? assets = [?] Round to te nearest hundredth. Enter
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- Prince Corporations accounts provided the following information at December 31, 2019: What should be the current balance of retained earnings? a. 520,000 b. 580,000 c. 610,000 d. 670,000The Accounting Equation Using the accounting equation, answer each of the following independent questions. Burlin Company starts the year with $100,000 in assets and $80,000 in liabilities. Net income for the year is $25,000, and no dividends are paid. How much is owners equity at the end of the year? Chapman Inc. doubles the amount of its assets from the beginning to the end of the year. Liabilities at the end of the year amount to $40,000, and owners equity is $20,000. What is the amount of Chapmans assets at the beginning of the year? During the year, the liabilities of Dixon Enterprises triple in amount. Assets at the beginning of the year amount to $30,000, and owners equity is $10,000. What is the amount of liabilities at the end of the year?For the current year, Vidalia Company reported revenues of 250,000 and expenses of 225,000. At the beginning of the year, its retained earnings had a balance of 95,000. During the year, Vidalia paid 11,000 dividends to shareholders. Its contributed capital was 56,000 at the beginning of the year, and it did not issue any new stock during the year. Vidalias assets total 237,500 on December 31 of the current year. What are Vidalias total liabilities on December 31 of the current year?
- At the beginning of the year, an Entity had total assets of P700,000 and total liabilities of P500,000. If the total assets increased by 30% which corresponds to decrease in total liabilities by 20%, what is the amount of owner’s equity at the end of the year?A. P200,000B. P210,000C. P110,000D. P510,000At the beginning of the year, the owner’s capital of SLG Company is $300,000 while its liabilities at the end of the year are $180,000. During the year, the owner withdrew cash for his personal use amounting to $80,000 and the results of operations showed revenues of $900,000 and expenses amounted to $320,000. What is the amount of SLG Company’s total assets at the end of the year? a) $620,000b) $120,000c) $480,000d) $980,000at the end of an accounting period, a companys liabilities equaled $295000 and the owners equity equaled $210000 how much were the companys assets
- At the start of the period, 2 pointsMN Business has total assets ofP500,000 and total liabilities ofP300,000. During the period, thebusiness earned total income ofP1,000,000 and incurred totalexpenses of P640,000. No additionalinvestments or withdrawals weremade by the owner. How much is thetotal equity at the end of the period?() The total assets of Shumway Company Lid. are £600,000 and its liabilities are equal to one half of its total assets. What is the amount of Shurmway Company Lid.'s equity? BE1-3 At the beginning of the year, Gonzales Company SLU had total assets of €870,000 and total liabilities of €500,000. Answer the following questions (a) I total assets increased €l50,000 during the year and total liabilities decreased E80,000, what is the amount of cquity at the end of the year? (h) During the year, total liabilities increased €100,000 and equity decreased €S5,000. What is the amount of total assets at the end of the year? (c) If total assets decreased €80,000 and equity increased €120,000 during the year, what is the amount of total liabilities at the end of the year? BE1-4 Use the accounting equation to answer each of the following questions (a) The liabilities of Alli Company Lad. are C90,000. Share capital-ordinary is C150,000; dividends are f40,000; revenues, £450,000; and expenses,…At the beginning of the year Unique Ltd. had total assets of $623,000 and total liabilities of $349,000. During the year Unique collected new contributions by owners of $21,000, paid dividends of $14,000 and had total expenses of $362,000. At the end of the year Unique has total assets of $672,000 and total equity of $377,000. Solve for all the unknown numbers and answer the following questions. What was the company's ending total liabilities? What was the company's profit for the year? What is the total revenues earned during the year?
- The beginning capital balance shown on FDNACCT’s Statement of Changes in Owner’s Equity is P67,000. Net income for the period is P25,000. The owner withdrew P44,000 cash from the business and made additional investments of P45,000 during the period. Total current liabilities are recorded at P98,000 while long term liabilities amount to P469,000. How much is the total assets at year end?Pinaasa Company had total assets of P4,000,000 and shareholder’s equity of P2,080,000 at the beginning of the year. During the year, assets increased by P520,000 and liabilities decreased by P820,000. What is the shareholder’s equity at the end of the year? P3,700,000 P3,420,000 P1,340,000 P3,380,000#110 At the beginning of 2020, a business had total liabilities of P1,800,000 and P600,000 of equity. Total assets increased by 25% while the total liabilities remained the same. Contributions made by the owner amounted to P500,000 while the profit amounted to P1,000,000. Determine the amount of withdrawals made by the owner during the year.