At the beginning of the year, Unique Ltd. had total assets of $623,000 and total liabilities of
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Question:
At the beginning of the year, Unique Ltd. had total assets of $623,000 and total liabilities of $349,000.
During the year Unique raised new contributions from owners of $21,000, paid dividends of $14,000, and had total expenses of $362,000.
At the end of the year, Unique has total assets of $672,000 and total equity of $377,000.
Questions
What was the total initial capital of the company?
What is the total income earned during the year?
What was the change in liabilities during the year?
What was the final total liabilities of the company?
What was the profit of the company in the period?
Expert Answer:
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Related Book For 
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
