At the End of the Current Year, the Equity in Durante

question 120

Multiple Choice

At the end of the current year, the equity in Durante Co. is $360,000. During the year the assets of the business had increased by $68,000, and the liabilities had increased by $118,000. Equity at the beginning of the year must have been:

• A) $410,000.
• B) $310,000.
• C) $546,000.
• D) $174,000.

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Definitions:

Glucose Entry

The process by which glucose is transported into cells to be used as energy or stored as glycogen.

Stored Fat

body fat accumulated and preserved in the human body as a source of energy for future use.

Appetite

The natural desire to satisfy a bodily need, especially for food.

Insulin

A chemical produced in the pancreas that assists in regulating sugar levels in the blood by promoting glucose intake by tissues.