At December 31 of the Current Year,Martin Consultants Has Assets

Essay

At December 31 of the current year,Martin Consultants has assets of $430,000 and liabilities of $205,000.Using the accounting equation and considering each case independently,determine the following:
a Stockholders' equity,as of December 31.
b Stockholders' equity,as of December 31 of the next year,assuming that assets increased by $12,000 and liabilities increased by $15,000.
c Stockholders' equity,as of December 31 of the next year,assuming that assets decreased by $8,000 and liabilities increased by $14,000.