Question: Kenmore Handyman Services has total assets for the year of $ 16,400 and total liabilities of $8,680. Requirements 1. Use the accounting equation to solve

Kenmore Handyman Services has total assets for the year of $ 16,400 and total liabilities of $8,680.

Requirements

1. Use the accounting equation to solve for equity.

2. If next year assets increased by $3,500 and equity decreased by $2,580, what would be the amount of total liabilities for Kenmore Handyman Services?

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