Ginger enterprises began the year with total assets

Reference no: EM13614137

Ginger Enterprises began the year with total assets of$630,000 and total liabilities of $334,000. Using this informationand the accounting equation, answer each of the followingindependent questions.

1. What was the amount of Ginger's owners' equity atthe beginning of the year?

2. If Ginger's total assets increasedby $151,000 and its total liabilities increased by $95,000 duringthe year, what was the amount of Ginger's owners' equity at the endof the year?

3. If Ginger's total liabilities increased by $43,000 and itsowners' equity decreased by $68,000 during the year, what was theamount of its total assets at the end of the year?

4. If Ginger's total assets doubled to $1,260,000 and its owners'equity remained the same during the year, what was the amount ofits total liabilities at the end of the year?

Reference no: EM13614137

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