A corporation began the year with total assets of $125,000 and stockholders' equity of $40,000. During the year, the company reported the following: Net income, $90,000 Dividends, $20,000 Total assets at the end of the year were $215,000. How much were total liabilities at the end of the year?

A corporation began the year with total assets of $125,000 and stockholders' equity of $40,000. During the year, the company reported the following: Net income, $90,000 Dividends, $20,000 Total assets at the end of the year were $215,000. How much were total liabilities at the end of the year?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 21EA: James Corporation earned net income of $90,000 this year. The company began the year with 600 shares...

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Question

vi.

Subject:- Finance

Definition Definition Assets available to stockholders after a company's liabilities are paid off. Stockholders’ equity is also sometimes referred to as owner's equity. A stockholders’ equity or book value generally includes common stock, preferred stock, and retained earnings and is an indicator of a company's financial strength.

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