Total assets were $96,000 and total liabilities were $54,000 at the beginning of the year. Net income
Question:
Total assets were $96,000 and total liabilities were $54,000 at the beginning of the year. Net income for the year was $16,000, and dividends of $4,000 were declared and paid during the year.
Required:
Calculate total stockholders' equity at the end of the year.
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Beginning stockholders equity 96000 54000 42000 Net income increases retained earnings ...View the full answer
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Related Book For
Accounting What the Numbers Mean
ISBN: 978-1259535314
11th edition
Authors: David Marshall, Wayne McManus, Daniel Viele
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