Question
1) Determine the amount and direction (increase or decrease) of the period's change in total assets if total liabilities decreased by $25,157 during a period
1) Determine the amount and direction (increase or decrease) of the period's change in total assets if total liabilities decreased by $25,157 during a period of time and stockholders' equity increased by $33,928 during the same period.
2)Aztec Company is selling a piece of land adjacent to their business. An appraisal reported the market value of the land to be $93,519. The Majestic Company and the Aztec Company settled on a purchase price of $111,929. On the same day, another piece of land on the same block sold for $103,634. Under the cost concept, what is the amount that will be used to record this transaction in the accounting records.
3)The assets and liabilities of the company are $89,437 and $43,516 respectfully. Find the stockholders' equity.
4)The accounts in the ledger of Mickeys Park Co. are listed below. All accounts have normal balances. Account Payable $487 Fees Earned $2,348 Accounts Receivable $957 Insurance Expense $401 Equipment $4,711 Land $1,517 Cash $708 Wages Expense $877 Dividends $447 Stockholders' Equity $6,783 Determine the total of all the assets.
5)The accounts in the ledger of Mickeys Park Co. are listed below. All accounts have normal balances. Accounts Payable $441 Fees Earned $2,272 Accounts Receivable $988 Insurance Expense $459 Equipment $4,248 Land $1,613 Cash $1,159 Wages Expense $786 Dividends $371 Stockholders' Equity $6,911 What is the total of all the liabilities?
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