Question

At the beginning of the year, Ivanhoe Company had total assets of $715,000 and total liabilities of $258,000. Answer the following

independent questions.
(a) If total assets increased $145,000 during the year and total liabilities decreased $83,000, what is the amount of owner's equity at
the end of the year?
Owner's equity
$

Answer 1

Answer:$685000

Explanation:

Add the total asset withe increased asset. Subtract the decreased liability by the total Liability. Subtract both of the answers.