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    Argosy University/ Phoniex University/
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Category > Accounting Posted 12 Aug 2017 My Price 7.00

stockholders' equity

At the beginning of 2010, a corporation had assets of $670,000 and liabilities of $520,000. During 2010, assets increased $52,000 and liabilities increased $7,000. What was stockholders' equity on December 31, 2010?

  $475,000
  $195,000
  $715,000
  $91,000


Which of the following properly describes the impact on the financial statements when a company reports wage expense of $8,700, of which $3,700 remains unpaid?
  Net income decreased by $5,000.
  Cash decreased by $8,700.
  Net income decreased by $8,700.
  Cash decreased by $3,700.


Which of the following properly describes the impact on the financial statements when a company incurs operating expenses of $8,100, of which $3,200 remains unpaid?
  Net income decreased by $8,100.
  Cash increased by $4,900.
  Net income decreased by $3,200.
  Cash decreased by $8,100.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 12 Aug 2017 02:08 PM My Price 7.00

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