Calculating Owners' Equity At Year's End
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At the beginning of the fiscal year, the balance sheet showed assets of $1,364 and owners' equity of $836. During the year, assets increased $74 and liabilities decreased $38. Owners' equity at the end of the year totaled:
$836
$872
$948
$1,438
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Solution Summary
This provides the steps to calculate the Owners' equity at the end of the year
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