Reference no: EM133012357
Question - At the beginning of the year Hellena Ltd. had total assets of $536,000 and total equity of $322,000.
By the end of the year Hellena had total assets of $505,000 and total liabilities of $120,000.
During the year the business had new contributions by the owners of $22,000, expenses of $452,000, and revenues of $511,000.
Required - Solve for all the unknown numbers and answer the following questions.
What was the amount of dividends paid during the year?
What was the change in liabilities during the year?
What was the company's ending equity?
What was the company's profit for the period?
What was the company's beginning total liabilities?
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