Puffin Company began the year with assets of $118,000 and liabilities of $84,000. During the year assets increased by $15,600 and liabilities decreased by $10,800. What is the amount of the change in Puffin's stockholders' equity during the year? Multiple Choice $4,800 increase $26,400 increase $4.800 decrease $26,400 decrease

Puffin Company began the year with assets of $118,000 and liabilities of $84,000. During the year assets increased by $15,600 and liabilities decreased by $10,800. What is the amount of the change in Puffin's stockholders' equity during the year? Multiple Choice $4,800 increase $26,400 increase $4.800 decrease $26,400 decrease

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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