Dream-It LLC is a motivational consulting business. At the end of its accounting period, December 31, 2015,

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Dream-It LLC is a motivational consulting business. At the end of its accounting period, December 31, 2015, Dream-It has assets of $780,000 and liabilities of $150,000. Using the accounting equation, determine the following amounts:

a. Stockholders' equity as of December 31, 2015.

b. Stockholders' equity as of December 31, 2016, assuming that assets increased by $90,000 and liabilities increased by $25,000 during 2016.

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Financial and Managerial Accounting

ISBN: 978-1285866307

13th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

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Question Posted: Jun 16, 2016 01:33 AM

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Dream-It LLC is a motivational consulting business. At the end of its accounting period, December 31, 2015,

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Financial and Managerial Accounting

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