FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The shareholders’ equity of Chernasky Company at the beginning and end of 2020 totalled $15,000 and $18,000, respectively. Assets at the beginning of 2020 were $25,000. If the liabilities of Chernasky Company increased by $8,000 in 2020, how much were total assets at the end of 2020? Use the
Please explain.
a. $36,000
b. $16,000
c. $2,000
d. Some other amount (fill in blank).
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