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April 18, 2015

April 18, 2015

Posted by **Peaches** on Sunday, September 13, 2009 at 5:01pm.

Chapman Inc. doubles the amount of its assets from the beginning to the end of the year. Liabilities at the end of the year amount to $40,000, and owner’s equity is $20,000. What is the amount of Chapman’s assets at the beginning of the year?

During the year, the liabilities of Dixon Enterprise triple in amount. Assets at the beginning of the year amount to $30,000, and owner’s equity is $10,000. What is the amount of liabilities at the end of the year?

- Accounting Math -
**Ms. Sue**, Sunday, September 13, 2009 at 5:04pm100,000 + 25,000 - 80,000 = ?

2x - 40,000 = 20,000

Solve for x

- Accounting Math -
**Leen**, Friday, December 19, 2014 at 4:29pmAssets = Liabilities + Owner's Equity

$100, 000 = 80, 000 + _____

100, 000= 80, 000 + 20, 000

100, 000= 100, 000

- Accounting Math -
**Leen**, Friday, December 19, 2014 at 4:42pmChapman

At the end of the Year:

Assets = Liabilities + Owner's Equity

? = 40, 000 + 20, 000

Therefore assets at the beginning of the year was

30, 000

Since it was doubled at the end of the year, then 30, 000 multiply by 2 we get $60, 000.

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