FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Be-The-One is a motivational consulting business. At the end of its accounting period, December 31, 20Y2, Be-The-One has assets of $395,000 and liabilities of $97,000. Using the accounting equation, determine the following amounts:

a.  Stockholders' equity as of December 31, 20Y2.

b.  Stockholders' equity as of December 31, 20Y3, assuming that assets decreased by $65,000 and liabilities increased by $36,000 during 20Y3.

 

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