uni ctice At the beginning of the year, Morales Company had total assets of $809
ID: 2604043 • Letter: U
Question
uni ctice At the beginning of the year, Morales Company had total assets of $809,000 and total l (o) If total assets Increased $151,000 during the year and total liabilities decreased $82,000, what is the amount of stockholders' equity at the end of the year? .coo,what iss eo ma abilities of $556,000. Treat each tem independently.) each Stockholders' equity $ requity s 4ss 860 (b) During the year, total liabilities increased $90,000 and stockholders' equity decreased s Total assets 73,000. What is the amount of total assets at the end of the year? K TO TEXT INTERACTIVE TUTORIALExplanation / Answer
Total assets=Total liabiltiies+Total equity
Total equity at beginning=(809000-556000)=$253000
1.Total assets at end=(809000+151000)=$960,000
Total liabilities at end=(556000-82000)=$474000
Total equity=(960,000-474000)=$486000.
2.Total liabilities at end=(556000+90000)=$646000
Total equity=(253000-73000)=$180,000
Hence Total assets=(180,000+646000)=$826000.
3.Total assets would be =(809000-89000)=$720,000
Total equity=(253000+113000)=$366000
Hence Total liabilties=(720,000-366000)=$354000.
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