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Leya [2.2K]
3 years ago
10

Total assets were $78,000 and total liabilities were $42,000 at the beginning of the year. Net income for the year was $15,500,

and dividends of $5,000 were declared and paid during the year.
Required:
Calculate total stockholders' equity at the end of the year.
Business
1 answer:
Vaselesa [24]3 years ago
6 0

Answer:

$46,500

Explanation:

Accounting equation is stated as :

Assets = Equity + Liabilities

therefore,

Equity = Assets - Liabilities

Equity at Beginning of the Period :

Equity = Assets - Liabilities

           = $78,000 - $42,000

           = $36,000

Equity at end of the Period

Closing Equity Balance = Opening Balance + Net Income - Dividends

                                       = $36,000 + $15,500 - $5,000

                                       = $46,500

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Answer:

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Explanation:

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3 0
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dangina [55]

Answer:

Under north Carolina's laws, the developer must refund the buyer's money within a 30 day period since the purchase date. North Carolina law also sets a deadline of 5 calendar days to cancel a timeshare contract, so this buyer barely made it on time. A buyer cannot waive his right to cancellation, even if the option is not included in the contract.

6 0
3 years ago
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Answer:

Cash flows from investing activities is $653,200.

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Cash flows from investing activities                                        $653,200

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