(Solved): Exercise 1-10 (Static) Using the accounting equation LO A1 Answer the following questions. Hint. ...

Exercise 1-10 (Static) Using the accounting equation LO A1 Answer the following questions. Hint. Use the accounting equation. a. At the beginning of the year, Addison Company's assets are \( \$ 300,000 \) and its equity is \( \$ 100,000 \). During the year, assets increase \( \$ 80,000 \) and liabilities increase \( \$ 50,000 \). What is the equity at year-end? b. Office Store Company has assets equal to \( \$ 123,000 \) and liabilities equal to \( \$ 47,000 \) at year-end. What is the equity for Office Store Company at year-end? c. At the beginning of the year, Quaker Company's liabilities equal \( \$ 70,000 \). During the year, assets increase by \( \$ 60,000 \), and at yearend assets equal \( \$ 190,000 \). Liabilities decrease \( \$ 5,000 \) during the year. What are the beginning and ending amounts of equity? Complete this question by entering your answers in the tabs below. At the beginning of the year, Addison Company's assets are \( \$ 300,000 \) and its equity is \( \$ 100,000 \). During the year, assets increase \( \$ 80,000 \) and liabilities increase \( \$ 50,000 \). What is the equity at year-end? Exercise 1-10 (Static) Using the accounting equation LO A1 Answer the following questions. Hint: Use the accounting equation. a. At the beginning of the year, Addison Company's assets are \( \$ 300,000 \) and its equity is \( \$ 100,000 \). During the year, assets increase \( \$ 80,000 \) and liabilities increase \( \$ 50,000 \). What is the equity at year-end? b. Office Store Company has assets equal to \( \$ 123,000 \) and liabilities equal to \( \$ 47,000 \) at year-end. What is the equity for Office Store Company at year-end? c. At the beginning of the year, Quaker Company's liabilities equal \( \$ 70,000 \). During the year, assets increase by \( \$ 60,000 \), and at yearend assets equal \( \$ 190,000 \). Liabilities decrease \( \$ 5,000 \) during the year. What are the beginning and ending amounts of equity? Complete this question by entering your answers in the tabs below. Office Store Company has assets equal to \( \$ 123,000 \) and liabilities equal to \( \$ 47,000 \) at year-end. What is the equity for office Store Company at year-end? Exercise 1-10 (Static) Using the accounting equation LO A1 Answer the following questions. Hint. Use the accounting equation. a. At the beginning of the year, Addison Company's assets are \( \$ 300,000 \) and its equity is \( \$ 100,000 \). During the year, assets increase \( \$ 80,000 \) and liabilities increase \( \$ 50,000 \). What is the equity at year-end? b. Office Store Company has assets equal to \( \$ 123,000 \) and liabilities equal to \( \$ 47,000 \) at year-end. What is the equity for Office Store Company at year-end? c. At the beginning of the year, Quaker Company's liabilities equal \( \$ 70,000 \). During the year, assets increase by \( \$ 60,000 \), and at yearend assets equal \( \$ 190,000 \). Liabilities decrease \( \$ 5,000 \) during the year. What are the beginning and ending amounts of equity? Complete this question by entering your answers in the tabs below. At the beginning of the year, Quaker Company's liabilities equal \( \$ 70,000 \). During the year, assets increase by \( \$ 60,000 \), and at year-end assets equal \( \$ 190,000 \). Liabilities decrease \( \$ 5,000 \) during the year. What are the beginning and ending amounts of equity?