Question
At the beginning of the year, Morales Company had total assets of $882,000 and total liabilities of $576,000. (Treat each item independently.) (a) If total
At the beginning of the year, Morales Company had total assets of $882,000 and total liabilities of $576,000. (Treat each item independently.)
(a) If total assets increased $172,000 during the year and total liabilities decreased $83,000, what is the amount of stockholders equity at the end of the year?
Stockholders equity | $ |
(b) During the year, total liabilities increased $109,000 and stockholders equity decreased $71,000. What is the amount of total assets at the end of the year?
Total assets | $ |
(c) If total assets decreased $83,000 and stockholders equity increased $100,000 during the year, what is the amount of total liabilities at the end of the year?
Total liabilities | $ |
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