Valley Creative Studios started the year with $150,000 in assets and $80,000 in liabilities. • • • Revenue for the year: $180,000 Expenses: $95,000 Dividends distributed: $40,000 What is the ending stockholders' equity? a. $115,000 b. $90,000 c. $85,000 d. $120,000
Valley Creative Studios started the year with $150,000 in assets and $80,000 in liabilities. • • • Revenue for the year: $180,000 Expenses: $95,000 Dividends distributed: $40,000 What is the ending stockholders' equity? a. $115,000 b. $90,000 c. $85,000 d. $120,000
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter1: The Role Of Accounting In Business
Section: Chapter Questions
Problem 4SEQ: If total assets are $20,000 and total liabilities are $12,000, the amount of stockholders’ equity...
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Financial Accounting
Transcribed Image Text:Valley Creative Studios started the year with $150,000 in
assets and $80,000 in liabilities.
•
•
•
Revenue for the year: $180,000
Expenses: $95,000
Dividends distributed: $40,000
What is the ending stockholders' equity?
a. $115,000
b. $90,000
c. $85,000
d. $120,000
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