Accounting equation OBJ. 3 Be-The-One is a motivational consulting business. At the end of its accounting period,
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Accounting equation OBJ. 3 Be-The-One is a motivational consulting business. At the end of its accounting period, December 31, 2015, Be-The-One has assets of $395,000 and liabilities of $97,000. 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 decreased by
$65,000 and liabilities increased by $36,000 during 2016.
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Related Book For
Financial And Managerial Accounting
ISBN: 9781305267831,9781305267848
13th Edition
Authors: Carl S. Warren , James M. Reeve , Jonathan Duchac
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