Homework Answers
Answer 2. d. $8000 increase
As
net increase in assets = Increase in liabilities -decrease in equity
= $14000-6000
= $8000
Answer c. $80000
Calculated as
Net income for the period = Revenue - Expense = $140000-125000 = $15000
Ending retained earnings = Beginning retained earnings + net income - divident
= $75000+15000-10000
= $80000
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2. If total liabilities increased by $14,000 during a period of time and stockholders' equi decreased...
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acct hw help QUESTION 26 Elston Company compiled the following financial information as of December 31,...
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acct hw help
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