During 2011,Canton Company's assets increased $95,500 and their liabilities decreased $17,300.Canton Company's stockholders' equity on December 31,2011 was $211,500.How much was stockholders' equity on January 1,2011?

Question

Quizplus · Accepted Answer

Stockholders' equity ($98,700) on January 1, 2010 = Stockholders equity ($211,500) on December 31, 2010 - the increase in stockholders' equity ($95,500 + 17,300) during 2010.

During 2011,Canton Company's Assets Increased $95,500 and Their Liabilities Decreased