Question: practice problems are hard! Metropolitan Casting Services started the year with total assets of $130,000 and total liabilities of $50,000. The revenues and the expenses

practice problems are hard!

Metropolitan Casting Services started the year with total assets of $130,000 and total liabilities of $50,000. The revenues and the expenses for the year amounted to $150.000 and $80,000, respectively. During the year, the company did not issue any common stock, but it distributed dividends of $45,000 Calculate the amount of increase or decrease in stockholders' equity for the year. OA a $80,000 decrease B. a $25,000 increase OC. a $45,000 increase OD. a $105,000 increase

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Metropolitan Casting Services started the year with total assets of $ 100, 000 and total liabilities of $ 40,000. The revenues and the expenses for the year amounted to $ 140000 and $ 80,000,...

Metropolitan Casting Services started the year with total assets of $130,000 and total liabilities of $40,000. The revenues and the expenses for the year amounted to $140,000 and $80,000,...

9. Metropolitan Casting Services started the year with total assets of $110,000 and total liabilities of $50,000. The company is a sole proprietorship. The revenues and the expenses for the year...

Metropolitan Casting Services started the year with total assets of $110,000 and total liabilities of $45,000. The company is a sole proprietorship. The revenues and the expenses for the year...

Metropolitan Casting Services started the year with total assets of $90,000 and total liabilities of $45,000. The revenues and the expenses for the year amounted to $150,000 and $80,000,...

Metropolitan Casting Services started the year with total assets of $80,000 and total liabilities of $65,000. The revenues and the expenses for the year amounted to $150,000 and $60,000,...

Metropolitan Casting Services started the year with total assets of $100,000 and total liabilities of $40,000. The revenues and the expenses for the year amounted to $130,000 and $80,000,...

How the answer was obtained? Show all steps. Metropolitan Casting Services started the year with total assets of $120,000 and total liabilities of $50,000. The revenues and the expenses for the year...

Metropolitan Casting Services started the year with total assets of $ 1 3 0 , 0 0 0 and total liabilities of $ 6 0 , 0 0 0 . The revenues and the expenses for the year amounted to $ 1 1 0 , 0 0 0 and...

Metropolitan Casting Services started the year with total assets of $120,000 and total liabilities of $55,000. The revenues and the expenses for the year amounted to $120,000 and $70,000,...

Write down the definition of the term: Mission in which you address the following: A brief description of what a mission is. An example of a mission statement Key ideas that you think make sense...

The phase line in Exercise 12. From the given phase-line diagram, sketch a possible graph of the rate of change of x as a function of x. start here x=2 x=4 x=8

Una opci n de compra se considera in the money cuando: Question 2 4 Answer a . La prima es igual al valor intr nseco b . El precio del mercado supera el precio de ejercicio c . El precio del...

7 . 6 A silicate glass is crystallizing following the Johnson - Mehl - Avrami equation, where the fraction crystallized is given by f t r a n s f o r m e d = 1 - e - A t 4 . The following temperature...