Question: TB Problem Qu . 1 - 2 2 1 ( Algo ) Using the accounting equation At the beginning of the year, a company had

TB Problem Qu.1-221(Algo) Using the accounting equation
At the beginning of the year, a company had $138,000 of liabilities. During the year, assets increased by $178,000 and at year-end the assets equaled $414,000. Liabilities decreased $38,000 during the year.
Calculate the beginning and ending values of equity.

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