During 2016, Canton Company's assets increased $95,500 and the liabilities decreased $17,300. Canton Company's stockholders' equity at December 31, 2016 was $211,500. What amount was stockholders' equity at January 1, 2016?

Question

Quizplus · Accepted Answer

Stockholders' equity increased by $95,500 - $17,300 = $78,200 during 2016. Therefore, stockholders' equity at January 1, 2016 was $211,500 - $78,200 = $133,300.

During 2016, Canton Company's Assets Increased $95,500 and the Liabilities