Homework Answers
(a)
Assets = Liabilities + Stockholders' equity
550,000 = 306,000 + Stockholders' equity
Hence, Stockholders' equity = 550,000 - 306,000
= $244,000
(b)
Assets = Liabilities + Stockholders' equity
= 250,000 + (100,000 + 85,000)
= 250,000 + 185,000
= $435,000
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