Question

At the beginning of the year, Morales Company had total assets of $882,000 and total liabilities of $576,000. (Treat each item independently.)(A) If total assets increased $172,000 during the year and total liabilities decreased $83,000, what is the amount of stockholders’ equity at the end of the year?Stockholders’ equity $Entry field with correct answer(B) During the year, total liabilities increased $109,000 and stockholders’ equity decreased $71,000. What is the amount of total assets at the end of the year?Total assets $Entry field with incorrect answer now contains modified data(C) If total assets decreased $83,000 and stockholders’ equity increased $100,000 during the year, what is the amount of total liabilities at the end of the year?Total liabilities $Entry field with incorrect answer now contains modified data

Answer 1

Answer:

(A) Stockholder's Equity $561000

(B) Total assets $920000

(c) Total Liabilities $393000