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blsea [12.9K]
3 years ago
12

Al’s Automotive started the year with total assets of $250,000 and total liabilities of $180,000. During the year the business r

ecorded $375,000 in revenues, $200,000 in expenses, and dividends of $35,000. Stockholders' equity at the end of the year was
A :$210,000
B :$455,000
C :$270,000
D :$520,000
Business
1 answer:
34kurt3 years ago
8 0

Answer:

A :$210,000

Explanation:

The accounting equation gives the relationship between the various elements of the balance sheet. These are the assets, liabilities and Stockholders' equity

Assets = Stockholders' equity + Liabilities

Retained earnings is the portion of the company's earnings that is added to the common stock to get the Stockholders' equity.

Retained earnings added =  $375,000 -  $200,000 - $35,000

= $140,000

Stockholders' equity at the end of the year = $250,000 - $180,000 + $140,000

= $210,000

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