Dorset Company Began the Year with Total Assets of $400,000

Essay

Dorset Company began the year with total assets of $400,000 and total liabilities of $300,000.Required:
Using this information and the accounting equation,answer each of the following independent questions.
a.What was Dorset's stockholders' equity at the beginning of the year?
b.Assuming Dorset Company's assets increased by $50,000 and its total liabilities increased by $30,000 during the year,what would be the amount of stockholders' equity at the end of the year?
c.Assuming Dorset's total assets increased to $500,000 and its stockholders' equity increased to $150,000,what would be the amount of total liabilities at the end of the year?