Essay On Brief Exercise

Accounting Study Accounting Study BRIEF EXERCISE 1-8 Beginning of Year: Assets = Liabilities + Shareholders’ equityBeginning of Year: $800,000 = $500,000 + Shareholders’ equityBeginning of Year: Shareholders’ equity = $300,000(a)        ($800,000 + $150,000) = ($500,000 – $80,000) + Shareholders’ equity        Shareholders’ equity = $530,000(b)        Assets = ($500,000 – $50,000) + ($300,000 + $50,000 + $75,000)         Assets = $875,000(c)        ($800,000.