Question

Bob Auto Repairs started 2014 with total assets of $ 19,000 and total liabilities of $ 9,000. At the end of 2014, Bob’s total assets stood at $ 27,000, and total liabilities were $ 13,000.

Requirements
1. Did the stockholders’ equity of Bob Auto Repairs increase or decrease during 2014? By how much?
2. Identify the four possible reasons that stockholders’ equity can change.



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  • CreatedJanuary 16, 2015
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