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Blue Fin started the current year with assets of $716,000, liabilities of $358,000 and common stock of $216,000. During the current year, assets increased by $416,000, liabilities decreased by $58,000 and common stock increased by $291,000. There was no payment of dividends to owners during the year. What was the amount of Blue Fin's change in total stockholders' equity during the year? Multiple Choice $474,000 increase $358,000 increase $216,000 increase $258,000 increase

Blue Fin started the current year with assets of $716,000, liabilities of $358,000 and common stock of $216,000. During the current year, assets increased by $416,000, liabilities decreased by $58,000 and common stock increased by $291,000. There was no payment of dividends to owners during the year. What was the amount of Blue Fin's change in total stockholders' equity during the year? Multiple Choice $474,000 increase $358,000 increase $216,000 increase $258,000 increase

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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Blue Fin started the current year with assets of $716,000, liabilities of $358,000 and common stock of $216,000. During the current year, assets increased by $416,000, liabilities decreased by $58,000 and common stock increased by $291,000. There was no payment of dividends to owners during the year. What was the amount of Blue Fin's change in total stockholders' equity during the year? Multiple Choice $474,000 increase $358.000 increase $216,000 increase $258,000 increase O
Transcribed Image Text:Blue Fin started the current year with assets of $716,000, liabilities of $358,000 and common stock of $216,000. During the current year, assets increased by $416,000, liabilities decreased by $58,000 and common stock increased by $291,000. There was no payment of dividends to owners during the year. What was the amount of Blue Fin's change in total stockholders' equity during the year? Multiple Choice $474,000 increase $358.000 increase $216,000 increase $258,000 increase O
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