At the beginning of this year,Tong Company had $160,000 in liabilities.During this year,assets increased by $160,000 and at year-end they equaled $360,000.Liabilities decreased $20,000 during this year.Calculate the beginning and ending values of equity.

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The Answer of At the beginning of this year,Tong Company had $160,000 in liabilities.During this year,assets increased by $160,000 and at year-end they equaled $360,000.Liabilities decreased $20,000 during this year.Calculate the beginning and ending values of equity.

At the Beginning of This Year,Tong Company Had $160,000 in Liabilities.During