Beyerdynamic began the year with assets of $107,000 and liabilities of $78,500. During the year assets...

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Beyerdynamic began the year with assets of $107,000 and liabilities of $78,500. During the year assets increased by $13,400 a The Sarbanes-Oxley Act (SOX) requires company executives to sign a report certifying that the financial statements are free o

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Answer 1

Answer #1

Calculate following

Assets	=	Liabilities	+	Stockholder's equity
107000		78500		28500
13400		-9700
120400		68800		120400-68800 = 51600

Stockholder's equity increase by 51600-28500 = 23100

So answer is a) $23100 Increase

2) Yes, SOX requires Company executives to sign a report certifying that the financial statements are free of error

So above statement is true

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Answer 2

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