At the beginning of the year, Valencia Corp had total assets of $920,000 and total liabilities of $610,000. During the year, total assets increased by $180,000 and total liabilities decreased by $90,000. What is the amount of stockholders' equity at the end of the year?
At the beginning of the year, Valencia Corp had total assets of $920,000 and total liabilities of $610,000. During the year, total assets increased by $180,000 and total liabilities decreased by $90,000. What is the amount of stockholders' equity at the end of the year?
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 53E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...
Question
Give true answer this general accounting
![At the beginning of the year, Valencia Corp had total assets of
$920,000 and total liabilities of $610,000. During the year,
total assets increased by $180,000 and total liabilities
decreased by $90,000. What is the amount of stockholders'
equity at the end of the year?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5d28e8b1-5012-4c66-8762-02c2c6fa7c06%2Fd4be8924-4fcc-46bf-af0d-5e8e622d4f0a%2Fm2rroip_processed.jpeg&w=3840&q=75)
Transcribed Image Text:At the beginning of the year, Valencia Corp had total assets of
$920,000 and total liabilities of $610,000. During the year,
total assets increased by $180,000 and total liabilities
decreased by $90,000. What is the amount of stockholders'
equity at the end of the year?
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