Assets totaled $24,250 and liabilities totaled $8,500 at the beginning of the year.During the year, assets decreased by $3,500 and liabilities increased by $2,800.
-Use the information above to answer the following question.What is the amount of stockholders' equity at the end of the year?
A) $9,450.
B) $15,750.
C) $15,050.
D) $14,450.

Question

Quizplus · Accepted Answer

Assets - Liabilities = Stockholders' equity($24,250 - $3,500) - ($8,500 + $2,800) = $9,450

Assets Totaled $24,250 and Liabilities Totaled $8,500 at the Beginning