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Total assets were $68,000 and total liabilities were $37,000 at the beginning of the year. Net income for the year was $
Posted: Mon May 30, 2022 8:18 am
by answerhappygod
- 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 29 times
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 $