What is the amount of total liabilities at the end of year

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Problem - At the beginning of the year, Sunland Company had total assets of $879,000 and total liabilities of $337,000. Answer the following independent questions.

(a) If total assets increased $124,000 during the year and total liabilities decreased $62,000, what is the amount of owner's equity at the end of the year?

(b) During the year, total liabilities increased $128,000 and owner's equity decreased $96,000. What is the amount of total assets at the end of the year?

(c) If total assets decreased $96,000 and owner's equity increased $83,000 during the year, what is the amount of total liabilities at the end of the year?

Reference no: EM132813533

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