Calculating the change in equity, Accounting Basics

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Calculating the change in equity

Calculating the change in equity from balance sheet data:

The beginning and ending balances in certain account categories of the Release Company are as follows:

Account Categories         Beginning balances       Ending balances

Assets                          $318,000                  $331,000
Liabilities                   $107,000              $110,000

Based on this information, what was the change in equity for the period?

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Accounting Basics: Calculating the change in equity

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