Mofro's Computer Repair Shop started the year with total assets of $250,000 and total liabilities of $160,000. During the year, the business recorded $400,000 in computer repair revenues and $240,000 in expenses. Mofro paid dividends of $45,000. What is the value of stockholders' equity at the end of the year?

Mofro's Computer Repair Shop started the year with total assets of $250,000 and total liabilities of $160,000. During the year, the business recorded $400,000 in computer repair revenues and $240,000 in expenses. Mofro paid dividends of $45,000. What is the value of stockholders' equity at the end of the year?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 22EB: Errol Corporation earned net income of $200,000 this year. The company began the year with 10,000...

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Errol Corporation earned net income of $200,000 this year. The company began the year with 10,000 shares of common stock and issued 5,000 more on April 1. They issued $7,500 in preferred dividends for the year. What is the numerator of the EPS calculation for Errol?
Bastion Corporation earned net income of $200,000 this year. The company began the year with 10,000 shares of common stock and issued 5,000 more on April 1. They issued $7,500 in preferred dividends for the year. What is the EPS for the year for Bastion?
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