- Total Assets Were 68 000 And Total Liabilities Were 37 000 At The Beginning Of The Year Net Income For The Year Was 1 (280.86 KiB) Viewed 27 times
Total assets were $68,000 and total liabilities were $37,000 at the beginning of the year. Net income for the year was $
-
answerhappygod
- Site Admin
- Posts: 899603
- Joined: Mon Aug 02, 2021 8:13 am
Total assets were $68,000 and total liabilities were $37,000 at the beginning of the year. Net income for the year was $
Total assets were $68,000 and total liabilities were $37,000 at the beginning of the year. Net income for the year was $13,000, and dividends of $2,500 were declared and paid during the year. Required: Calculate total stockholders' equity at the end of the year. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Stockholders' Equity Assets Liabilities + Beginning: $ 68,000 = $ 37,000 + Changes: Ending: + 0 $