At the beginning of 2010,a corporation had assets of $270,000 and liabilities of $160,000.During 2010,assets increased $25,000 and liabilities increased $5,000.What was stockholders' equity on December 31,2010?

Question

Quizplus · Accepted Answer

Stockholders' equity ($130,000) on December 31, 2010 = Beginning stockholders' equity ($270,000 - $160,000) + increase in stockholders' equity ($25,000 - $5,000) during 2010.

At the Beginning of 2010,a Corporation Had Assets of $270,000