Question
I just need help with part C. I've continuously worked it out and I keep getting 81,000 but it keeps telling me its wrong. At
I just need help with part C. I've continuously worked it out and I keep getting 81,000 but it keeps telling me its wrong.
At the beginning of the year, Morales Company had total assets of $834,000 and total liabilities of $546,000. (Treat each item independently.)
(a) If total assets increased $177,000 during the year and total liabilities decreased $86,000, what is the amount of stockholders equity at the end of the year?
Stockholders equity $551,000
(b) During the year, total liabilities increased $104,000 and stockholders equity decreased by $60,000. What is the amount of total assets at the end of the year?
Total assets $878,000
(c) If total assets decreased $82,000 and stockholders equity increased $120,000 during the year, what is the amount of total liabilities at the end of the year?
Total liabilities $81,000
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