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Category > Accounting Posted 16 May 2017 My Price 5.00

Be-The-One is a motivational consulting business.

 

Be-The-One is a motivational consulting business. At the end of its accounting period, December 31, 2013, Be-The-One has assets of $395,000 and liabilities of $97,000. Using the accounting equation, determine the following amounts:

a. Stockholders' equity as of December 31, 2013.

b. Stockholders' equity as of December 31, 2014, assuming that assets decreased by $65,000 and liabilities increased by $36,000 during 2014.

 
 

Answers

Alpha Geek
(8)
Status NEW Posted 16 May 2017 08:05 AM My Price 5.00

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file 1494922189-Answer.docx preview (83 words )
B-----------e-T-----------he------------One----------- is----------- a -----------mot-----------iva-----------tio-----------nal----------- co-----------nsu-----------lti-----------ng -----------bus-----------ine-----------ss.----------- At----------- th-----------e e-----------nd -----------of -----------its----------- ac-----------cou-----------nti-----------ng -----------per-----------iod-----------, D-----------ece-----------mbe-----------r 3-----------1, -----------201-----------3, -----------Be------------The------------On-----------e h-----------as -----------ass-----------ets----------- of----------- $3-----------95,-----------000----------- an-----------d l-----------iab-----------ili-----------tie-----------s o-----------f $-----------97,-----------000-----------. U-----------sin-----------g t-----------he -----------acc-----------oun-----------tin-----------g e-----------qua-----------tio-----------n, -----------det-----------erm-----------ine----------- th-----------e f-----------oll-----------owi-----------ng -----------amo-----------unt-----------s: ----------- a.----------- St-----------ock-----------hol-----------der-----------s' -----------equ-----------ity----------- as----------- of----------- De-----------cem-----------ber----------- 31-----------, 2-----------013-----------. -----------b. -----------Sto-----------ckh-----------old-----------ers-----------' e-----------qui-----------ty -----------as -----------of -----------Dec-----------emb-----------er -----------31,----------- 20-----------14,----------- as-----------sum-----------ing----------- th-----------at -----------ass-----------ets----------- de-----------cre-----------ase-----------d b-----------y $-----------65,-----------000----------- an-----------d l-----------iab-----------ili-----------tie-----------s i-----------ncr-----------eas-----------ed -----------by -----------$36-----------,00-----------0 d-----------uri-----------ng -----------201-----------4. ----------- Ma-----------r
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