A certain company started business on January 1,Year 1 with assets of $1,000,000 and shareholders' equity of $565,000.By the end of the year,assets increased by $100,000 and liabilities decreased by $150,000.Other than net income or loss,the only change in shareholders' equity was dividends of $50,000.
A) What was the amount total shareholders' equity at the end of the year?

Question

A certain company started business on January 1,Year 1 with assets of $1,000,000 and shareholders' equity of $565,000.By the end of the year,assets increased by $100,000 and liabilities decreased by $150,000.Other than net income or loss,the only change in shareholders' equity was dividends of $50,000.
 A) What was the amount total shareholders' equity at the end of the year?

Quizplus · Accepted Answer

The Answer of A certain company started business on January 1,Year 1 with assets of $1,000,000 and shareholders' equity of $565,000.By the end of the year,assets increased by $100,000 and liabilities decreased by $150,000.Other than net income or loss,the only change in shareholders' equity was dividends of $50,000.
 A) What was the amount total shareholders' equity at the end of the year?

A Certain Company Started Business on January 1,Year 1 with Assets