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At September 1, 2015, Promise Ring Co. reported stockholders' equity of $168,000. During the month, Promise Ring generated revenues of $44,000, incurred expenses of $26,000, purchased equipment for $5,000, and paid dividends of $4,000. What is the amount of stockholders' equity at September 30, 2015?

At September 1, 2015, Promise Ring Co. reported stockholders' equity of $168,000. During the month, Promise Ring generated revenues of $44,000, incurred expenses of $26,000, purchased equipment for $5,000, and paid dividends of $4,000. What is the amount of stockholders' equity at September 30, 2015?

FINANCIAL ACCOUNTING
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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At September 1, 2015, Promise Ring Co. reported stockholders' equity of $168,000. During the month, Promise Ring generated revenues of $44,000, incurred expenses of $26,000, purchased equipment for $5,000, and paid dividends of $4,000. What is the amount of stockholders' equity at September 30, 2015?
Transcribed Image Text:At September 1, 2015, Promise Ring Co. reported stockholders' equity of $168,000. During the month, Promise Ring generated revenues of $44,000, incurred expenses of $26,000, purchased equipment for $5,000, and paid dividends of $4,000. What is the amount of stockholders' equity at September 30, 2015?
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