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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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Answer:

Explanation:

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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