At The Beginning Of The Year, Logan Company's Assets Are $200,000 And Its Equity Is $150,000. During The Year, Assets Increase By $70,000 And Liabilities Increase By $30,000.

Answer Of Short Question

We have:
 
         Equity at the Beginning = $150,000
 
         Assets Increased By = $70,000
 
         Liabilities Increased By = $30,000

          Assets at the Beginning = $200,000

Find:

Equity at the End = ?

Firstly, we calculate Change In Equity (increase or decrease) because after that we can find out equity at the end.

As we know Accounting Equation, so we have:

                           Assets                =        Liabilities      +         Equity

                 Change In Equity       =   Change In Assets   -   Change In Liabilities
 
                 Change In Equity       =      $70000                  -       $30000
 
                  Change In Equity      =  $40000

 Equity at the End   =   Equity at the Beginning    +    Change In Equity

 Equity at the End   =              $150000                   +             $40000

  Equity at the End  =  $190000

So, Equity at the End of the accounting period is $190000.