Equity Bookkeeping Question

by Sandra
(Louisiana)

Equity Question

Equity Question

At the beginning of the year, Precise Solution liabilities equal $59,000.

During the year, assets increased by $60,000, and at year-end assets equal $190,000.

Liabilities decreased $14,000 during the year.

What are the beginning and ending amounts of equity?

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Owner's Equity

Does assets - liabilities = owner's equity?

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