Accounting challeges

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At the beginning of the year, Sielert Company had total assets of $749,070 and total liabilities of $335,200. Answer the following questions.

(a) If total assets increased $132,430 during the year and total liabilities decreased $62,510, what is the amount of owner’s equity at the end of the year?

Owner’s equity $Entry field with incorrect answer now contains modified data

(b) During the year, total liabilities increased $131,760 and owner’s equity decreased $95,710. What is the amount of total assets at the end of the year?

Total assets $Entry field with incorrect answer now contains modified data

(c) If total assets decreased $63,560 and owner’s equity increased $79,920 during the year, what is the amount of total liabilities at the end of the year?

Total liabilities $Entry field with incorrect answer now contains modified data

 
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