Fundamental Accounting Equation Video Lessons

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# Problem: During 2002, the assets of XYZ Company increased by $70,000 and the liabilities decreased by$42,000. XYZ Company's total equity at the end of 2002 was equal to $191,000. Calculate XYZ Company's total equity at the beginning of 2002. ###### FREE Expert Solution ###### Problem Details During 2002, the assets of XYZ Company increased by$70,000 and the liabilities decreased by $42,000. XYZ Company's total equity at the end of 2002 was equal to$191,000.

Calculate XYZ Company's total equity at the beginning of 2002.