The ending balance in Liabilities at year-end is $64,000.
At the beginning of the year, Assets are $100,000 and Liabilities are $58,000. During the year, assets increase $10,000 and Equity increases $4,000. What is the ending balance in Liabilities at year-end?Given that At the beginning of the year, Assets are $100,000 and Liabilities are $58,000. During the year, assets increase $10,000 and Equity increases $4,000. To calculate the ending balance in Liabilities at year-end, we have to use the accounting equation as follows:Assets = Liabilities + Equity$100,000 = $58,000 + EquityEquity = $100,000 - $58,000Equity = $42,000Given that Equity increases $4,000New Equity = $42,000 + $4,000New Equity = $46,000New Assets = $100,000 + $10,000New Assets = $110,000Using the accounting equation as follows:Assets = Liabilities + Equity$110,000 = Liabilities + $46,000Liabilities = $110,000 - $46,000Liabilities = $64,000Therefore, the ending balance in Liabilities at year-end is $64,000.
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