Stahl Consulting started the year with total assets of $60,000 and total liabilities of $25,000. During the year, the business recorded $54,000 in catering revenues and $34,000 in expenses. Stahl issued stock of $9,000 and paid dividends of $14,000 during the year. Stockholders' equity changed by what amount from the beginning of the year to the end of the year?

Stahl Consulting started the year with total assets of $60,000 and total liabilities of $25,000. During the year, the business recorded $54,000 in catering revenues and $34,000 in expenses. Stahl issued stock of $9,000 and paid dividends of $14,000 during the year. Stockholders' equity changed by what amount from the beginning of the year to 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...

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Can you answer these general accounting question?
At the beginning of the current fiscal year, the balance sheet of Cummings Co. showed liabilities of $436,000. During the year, liabilities decreased by $76,000; assets increased by $158,000; and paid-in capital increased by $17,000 to $377,000. Dividends declared and paid during the year were $121,000. At the end of the year, stockholders' equity totaled $757,000. Required: Calculate net income or loss for the year. (Amounts to be deducted should be indicated with a minus sign.) Beginning Changes Ending Stockholders' Equity PIC RE Assets Liabilities + $436,000 (76,000) + 17,000 158,000 = + $ 377,000 + $757,000 SE
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