A company began the year with assets of $100,000 and liabilities of $75,000.During the year assets increased by $12,000 and liabilities decreased by $9,000.
-Use the information above to answer the following question.What is the amount of stockholders' equity at the beginning of the year?

Question

Quizplus · Accepted Answer

Stockholders' equity is equal to assets minus liabilities. At the beginning of the year, assets were $100,000 and liabilities were $75,000, so stockholders' equity was $100,000 - $75,000 = $25,000.

A Company Began the Year with Assets of $100,000 and Liabilities