Question
At the beginning of the year, Bonita Industries had total assets of $752,000 and total liabilities of $470,000. (Treat each item independently.) (a) If total
At the beginning of the year, Bonita Industries had total assets of $752,000 and total liabilities of $470,000. (Treat each item independently.) (a) If total assets increased $141,000 during the year and total liabilities decreased $75,200, what is the amount of stockholders equity at the end of the year?
(b) During the year, total liabilities increased $94,000 and stockholders equity decreased $65,800. What is the amount of total assets at the end of the year?
(c) If total assets decreased $75,200 and stockholders equity increased $103,400 during the year, what is the amount of total liabilities at the end of the year?
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