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Hi experts, Please help with the solutions. The liabilities of Mudah Enterprise are RM16,000,...

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Accounting

imageHi experts, Please help with the solutions.

The liabilities of Mudah Enterprise are RM16,000, while its owner's equity is RM 28,000. How much is the total assets of Mudah Enterprise? Answer: At the beginning of the year, Afrina Trading had total assets of RM300,000 and liabilities of RM128,000. During the year, assets increased by RM48,000 and owner's equity decreased by RM56,000. Determine the liabilities at the end of the year. Answer: Total assets at the end of the period were RM325,000 and liabilities were 25% of the owner's equity. Determine the owner's equity at the end of the period

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