Question
At the beginning of 2020, Tran Corporation had assets of $480,000 and liabilities of $225,000. During the year, assets increased by $25,000 and liabilities decreased
At the beginning of 2020, Tran Corporation had assets of $480,000 and liabilities of $225,000. During the year, assets increased by $25,000 and liabilities decreased by $5,000. What was the total amount of stockholders' equity at the end of 2020?
Multiple Choice
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$275,000
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$235,000
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None of the above is correct.
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$285,000
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$250,000
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Financial Accounting A Critical Approach
Authors: John Friedlan
1st Edition
0130193720, 978-0130193728
