Question
On January 1, 20x1, Merlin Inc. showed assets totalling $210,000 and shareholder's equity of $100,000. During the year, Merlin's assets increased by $39,000 and shareholders'
On January 1, 20x1, Merlin Inc. showed assets totalling $210,000 and shareholder's equity of $100,000. During the year, Merlin's assets increased by $39,000 and shareholders' equity increases by $8,000. What is the liabilities total for Merlin at December 31, 20x1?
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Financial Accounting Theory and Analysis Text and Cases
Authors: Richard G. Schroeder, Myrtle W. Clark, Jack M. Cathey
10th edition
470646284, 978-0470646281
