At the Beginning of 2016 Stand First Company Had Total

question 218

Essay

At the beginning of 2016 Stand First Company had total assets of $520000 and total liabilities of $270000. Answer each of the following questions.
1. If total assets increased $60000 and owner's equity decreased $90000 during the year determine the amount of total liabilities at the end of the year.
2. During the year total liabilities decreased $73000 and owner's equity increased $50000. Compute the amount of total assets at the end of the year.
3. If total assets decreased $105000 and total liabilities increased $55000 during the year determine the amount of owner's equity at the end of the year.

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Definitions:

Police Officer

A police officer is a law enforcement member whose responsibilities include maintaining public order, enforcing laws, protecting people and property, and preventing crime.

Line-up

In criminal justice, a line-up is a process where a witness to a crime attempts to identify a suspect from a group of individuals.

Eyewitness

An individual who personally observes an event and can provide a first-hand account or testimony regarding its occurrence.

Confidence

The belief in one's abilities or qualities, often reflecting a sense of self-assurance arising from an appreciation of one’s own capabilities or qualities.