During 2019, Canton Company's assets increased $96,100 and the liabilities decreased $23,300. Canton Company's stockholders' equity...

Question

Question

During 2019, Canton Companys assets increased $96,100 and the liabilities decreased $23,300. Canton Companys stockholders

Answer 1

Answer #1

Solution:

Increase in stockholder's equity during 2019 = Increase in assets + Decrease in liabilities

= $96,100 + $23,300 = $119,400

Stockholder's equity on 31.12.2019 = $217,500

Stockholder's equity on 01.01.2019 = $217,500 - $119,400 = $98,100

Hence first option is correct.

Answer 2

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