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  • At The Beginning of The Year

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    Howard Umbaña
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    Shibuya District started the year with liabilities of 100,000 and owner's equity of 96,000. Assets increased by 40,000 and liabilities decreased to 30,000. With assets increasing by 40,000 and liabilities decreasing by 70,000 (100,000 - 30,000), owner's equity at the end of the year was 206,000 (96,000 + 40,000 + 70,000).

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    Shibuya District started the year with liabilities of 100,000 and owner's equity of 96,000. Assets increased by 40,000 and liabilities decreased to 30,000. With assets increasing by 40,000 and liabilities decreasing by 70,000 (100,000 - 30,000), owner's equity at the end of the year was 206,000 (96,000 + 40,000 + 70,000).

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    © All Rights Reserved
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    1 views1 page

    At The Beginning of The Year

    Uploaded by

    Howard Umbaña
    Shibuya District started the year with liabilities of 100,000 and owner's equity of 96,000. Assets increased by 40,000 and liabilities decreased to 30,000. With assets increasing by 40,000 and liabilities decreasing by 70,000 (100,000 - 30,000), owner's equity at the end of the year was 206,000 (96,000 + 40,000 + 70,000).

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    At the beginning of the year, Shibuya District had liabilities of 100,000 and owner’s

    equity of 96,000. If assets increased by 40,000 and liabilities decrease to 30,000, what
    was the owner’s equity at the end of the year?

    206,000

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