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What is the amount of shareholders equity at the end of year

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At the beginning of the year, Xul Ltd. had total assets of $720,000 and total liabilities of $420,000. Use this information to answer each of the following independent questions.

Question (a) If Xul's total assets increased by $250,000 during the year and total liabilities decreased by $80,000, what is the amount of shareholders' equity at the end of the year?

Question (b) During the year, Xul's total liabilities decreased by $100,000. The company reported net income of $90,000, sold additional shares for $125,000, and did not declare any dividends during the year. What is the amount of total assets at the end of the year?

Question (c) If Xul's total assets decreased by $90,000 during the year and shareholders' equity increased by $120,000, what is the amount of total liabilities at the end of the year?

Reference no: EM132484749

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