At the beginning of the year the company has Owners' Equity of $100,000. During the year the company increases the Owners' Equity by $25,000. At the beginning of the year the company has Liabilities of $50,000 and decreases Liabilities $10,000 during the year. What are Assets at the end of the year?

Which of the following accurately describes a surplus? a. consumer demand for a certain car is below the number of cars that are produced. b. the production costs for a certain car are below the sale price of that car. c. a reduction in the cost of steel enables a car company to reduce the sale price of its cars. d. a car company tries to charge too high a price for a car and has to reduce the price. 2b2t

Alicia has a collision deductible of $500 and a bodily injury liability coverage limit of $50,000. she hits another driver and injures them severely. the case goes to trial and there is a verdict to compensate the injured person for $40,000 how much does she pay?

Sye chase started and operated a small family architectural firm in 2016. the firm was affected by two events: (1) chase provided $25,000 of services on account, and (2) he purchased $2,800 of supplies on account. there were $250 of supplies on hand as of december 31, 2016. record the two transactions in the accounts. record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. post the entries in the t-accounts and prepare a post-closing trial balance.