Question
The following figures are available from Company ABCs Income Statement and Balance Sheet at the end of the fiscal year 2011, before distributing the profit.
The following figures are available from Company ABCs Income Statement and Balance Sheet at the end of the fiscal year 2011, before distributing the profit.
Total Assets $ 1,000,000
Total Liabilities $ 650,000
Total Revenue $ 300,000
Total Expenses $ 250,000
a) What is the total net worth of this company?
b) How much would the net worth increase/decrease if all profit would be retained in the company?
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Cornerstones Of Financial Accounting
Authors: Jay Rich, Jefferson Jones, Maryanne Mowen, Don Hansen, Donald Jones, Ralph Tassone
2nd Canadian Edition
0176707123, 978-0176707125
