cnapter i Homework Assignments Question 11 At the beginning of the year, Morales
ID: 2330725 • Letter: C
Question
cnapter i Homework Assignments Question 11 At the beginning of the year, Morales Company had total assets of $ 825,000 and total liabilities of $ 524,000. (Treat each item independently) (a) If total assets increased $ 182,000 during the year and total liabilities decreased $ 82,000, what is the amount of stockholders' equity at the end of the year? b) During the year, total liabilities increased $ 90,000 and stockholders' equity decreased $ 63.000. What is the amount of total assets at the end of the year? Total assets (c) If total assets decreased $ 83,000 and stockholders equity increased $ 112.000 during the year, what is the amount of total liabilities at the end of the year?Explanation / Answer
Beginning stockholder's equity = 825000-524000 = 301000
a) Stockholder's equity at the end of year = (825000+182000)-(524000-82000) = 565000
b) Total assets = (301000+524000+90000-63000) = $852000
c) Total liabilities = (825000-83000)-(301000+112000) = $329000
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