At the beginning of 2010, a corporation had assets of $270,000 and liabilities of $170,000. During 2010, assets increased $12,000 and liabilities increased $1,000. What was stockholders' equity on December 31, 2010? a) 87,000 b) 111,000 c) 159,000 d) 281,000

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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At the beginning of 2010, a corporation had assets of $270,000 and liabilities of
$170,000. During 2010, assets increased $12,000 and liabilities increased $1,000.
What was stockholders' equity on December 31, 2010?
a) 87,000
b) 111,000
c) 159,000
d) 281,000
Transcribed Image Text:At the beginning of 2010, a corporation had assets of $270,000 and liabilities of $170,000. During 2010, assets increased $12,000 and liabilities increased $1,000. What was stockholders' equity on December 31, 2010? a) 87,000 b) 111,000 c) 159,000 d) 281,000
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