Mofro's Computer Repair Shop started the year with $270,000 in total assets and $180,000 in total liabilities. During the year, the business recorded $450,000 in computer repair revenue, $270,000 in expenses, and Mofro paid a $45,000 dividend. 

Calculate equity at the end of the year

Answer rating: 100% (QA)

To calculate the equity at the end of the year we need to consider the following components Equity T... View the full answer