On July 1, 2022, Falcon Enterprises had the following information on its balance sheet: • Total Assets: $600,000 . Total Liabilities: $450,000 Total Stockholders' Equity: $150,000 During July, Falcon Enterprises earned revenues of $140,000 and incurred expenses of $45,000. The company declared dividends of $25,000, which will be paid in August. No other capital transactions occurred. What amount did Falcon Enterprises' total stockholders' equity increase by in July?

On July 1, 2022, Falcon Enterprises had the following information on its balance sheet: • Total Assets: $600,000 . Total Liabilities: $450,000 Total Stockholders' Equity: $150,000 During July, Falcon Enterprises earned revenues of $140,000 and incurred expenses of $45,000. The company declared dividends of $25,000, which will be paid in August. No other capital transactions occurred. What amount did Falcon Enterprises' total stockholders' equity increase by in July?

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 11MCQ: Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital...

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