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Use the accounting equation to answer each question that follows. Show any calculations you make. The assets of Router, Inc. are $7,500,000 and stockholders equity
Use the accounting equation to answer each question that follows. Show any calculations you make.
- The assets of Router, Inc. are $7,500,000 and stockholders equity is $1,810,000. What are total liabilities?
- The liabilities and stockholders equity of Gray Corporation are $550,000 and $250,000, respectively. What is the amount of assets?
- For the year 2020, Fluffer Inc.s beginning retained earnings was $1,200,000. In 2020 Fluffer earned $45,000 net income and paid a cash dividend of $1 per share of common stock. The number of outstanding shares of common stock was 10,000. What is ending retained earnings?
- At the beginning of the year, Carmody Corporations assets were $520,000 and its stockholders equity was $235,000. During the year, assets increased $50,000 and liabilities decreased $25,000. What is stockholders equity at the end of the year?
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