During the current year, the assets of Quality Stairs increased by $175,000 and the liabilities decreased by $15,000. If the equity in the business is $475,000 at the end of the year, the equity at the beginning of the year must have been:
A) $335,000.
B) $285,000.
C) $665,000.
D) $615,000.

Question

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The Answer of During the current year, the assets of Quality Stairs increased by $175,000 and the liabilities decreased by $15,000. If the equity in the business is $475,000 at the end of the year, the equity at the beginning of the year must have been:
A) $335,000.
B) $285,000.
C) $665,000.
D) $615,000.

During the Current Year, the Assets of Quality Stairs Increased