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shayshay4352
28.02.2020 •
Business
Al’s Automotive started the year with total assets of $250,000 and total liabilities of $180,000. During the year the business recorded $375,000 in revenues, $200,000 in expenses, and dividends of $35,000. Stockholders' equity at the end of the year wasA :$210,000B :$455,000C :$270,000D :$520,000
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Ответ:
Option A $210,000
Explanation:
As we know that:
Closing Equity = Opening balance + (Revenues - Expenses - Dividends)
To find closing equity we have to find opening equity and the opening balance is the difference of opening assets and opening liabilities so:
Opening Total Equity = Opening Total Assets - Opening Total Liabilities
Putting values we have:
Opening Equity = $250,000 Op. Assets + $180,000 Op. Liabilities
= $70,000 Opening Equity
So putting the value of opening equity we have:
Closing Equity = $70,000 Opening Equity + ($375,000 Revenue - $200,000 Expenses - $35,000 Dividends)
= $70,000 + 140,000 Retained Earnings = $210,000 Closing Equity
So the option A is correct.
Ответ:
that organelle is called the chloroplast. They create chlorophyll, conduct photosynthesis, and are the reason plants are green!
hope this helps!