At the beginning of the year, Morales Company had total assets of $600,000 and total liabilities of $350,000. If total assets decreased by $75,000 and stockholders' equity increased by $105,000 during the year, what is the amount of total liabilities at the end of the year?

At the beginning of the year, Morales Company had total assets of $600,000 and total liabilities of $350,000. If total assets decreased by $75,000 and stockholders' equity increased by $105,000 during the year, what is the amount of total liabilities at the end of the year?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 12P: The Kretovich Company had a quick ratio of 1.4, a current ratio of 3.0, a days’ sales outstanding of...

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Answer? ? Financial accounting question

At the beginning of the year, Morales Company had total
assets of $600,000 and total liabilities of $350,000. If total
assets decreased by $75,000 and stockholders' equity
increased by $105,000 during the year, what is the
amount of total liabilities at the end of the year?

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