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7 May, 20:56

The shareholders' equity of Diakovsky Company at the beginning and end of 20X6 totaled $16,000 and $21,000, respectively. Assets at the beginning of 20X6 were $25,000. If Diakovsky Company's liabilities increased by $8,000 in 20X6, how much were total assets at the end of 20X6

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  1. 8 May, 00:19
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    there is one equation which accounting is based

    Assets = Equity+Liability

    Opening Assets = Opening Equity+Opening Laibility

    25000 = 16000+9000

    9000 is the balancing figure because at that amount equation will be telly

    Closing Equation as follows

    Closing Assets = Closing Equity+Closing Laiblity

    ? = 21000+9000 opening + 8000 increase

    ? = 21000+17000

    Closing Assets should be = 38000

    Total Assets At closing Date 38000
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