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Vitek1552 [10]
3 years ago
10

started with total assets of and total liabilities of . At the end of ​, total assets stood at and total liabilities were . Requ

irements 1. Did the​ stockholders' equity of increase or decrease during ​? By how​ much? 2. Identify the four possible reasons that​ stockholders' equity can change. Requirement 1. Did the​ stockholders' equity of increase or decrease during ​? By how​ much? ​(Enter a decrease with a minus sign or​ parentheses.) Change in stockholders' equity during the year is
Business
1 answer:
dedylja [7]3 years ago
7 0

Answer:

1. Assets = Equity + Liability

Equity = Assets - Liability

Opening Equity = 14,000 - 9,000

= $5,000

Closing Equity = 19,000 - 11,000

= $8,000

Increase ( Decrease) = 8,000 - 5,000

= Increased by $3,000

2. Four ways Equity can change.

  • Equity will increase if Common Stock is issued
  • Equity will increase if the company makes a profit ( Net Income ) as this will go to the Equity account as Retained earnings
  • Equity will decrease if the company pays Dividends as those are paid from retained earnings
  • Equity will decrease if there is a net loss.
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Willow Corp. (a C corporation) reported taxable income before the net operating loss deduction (NOL) in the amount of $100,000 i
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Willow Corp NOL carryover to 2021 (year 4) is $10,000

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  • Year 3 income = $100,000

Carry forward losses:

  • Year 1 = $50,000
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Total carry forward losses = $50,000 + $40,000

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brainly.com/question/25504231

3 0
2 years ago
Five individuals organized Miami Music Corporation on January 1. At the end of January 31, the following monthly financial data
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a. Profit(loss) = Total revenue - Total expenses

= 131,000 - 90,500

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The company did in fact generate<u> profit of $41,000 </u>and this can be shown from the Income Statement which is where profit or loss is calculated.

b. A company uses its assets to pay off its liabilities so if the liabilities are less than the assets then the company is capable of paying off its liabilities:

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<em>Liabilities are less than Assets so Miami Music does indeed have sufficient resources to pay its liabilities. </em>

This information comes from the <u>Balance Sheet</u> which is where assets and liabilities are shown.

7 0
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