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Homework answers / question archive / At the beginning of the year, Shaolin Company had total assets of $520,000 and total liabilities of $210,000
At the beginning of the year, Shaolin Company had total assets of $520,000 and total liabilities of $210,000.
Answer the following questions viewing each situation as being independent of the others.
(a1) If total assets increased $200,000 during the year, and total liabilities decreased $75,000, what is the amount of stockholders' equity at the end of the year? Stockholders' equity
(a2) During the year, total liabilities increased $230,000 and stockholders' equity decreased $90,000. What is the amount of total assets at the end of the year? Total assets
(a3) If total assets decreased $40,000 and stockholders' equity increased $130,000 during the year, what is the amount of total liabilities at the end of the year? Total liabilities
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