At the beginning of the year, Blossom Company had total assets of 871,000 and total...
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Accounting
At the beginning of the year, Blossom Company had total assets of 871,000 and total liabilities of 259,000.
Question 1
During the year, total liabilities increased 114,000 and owner's equity decreased 92,000. What is the amount of total assets at the end of the year?
Question 2
If total assets decreased 88,000 and the owner's equity increased 91,000 during the year, what is the amount of total liabilities at the end of the year?
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