Essay
At December 31, 2011, 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. Total Stockholders' Equity as of December 31, 2011.
b. Total Stockholders' Equity as of December 31, 2012, assuming that assets increased by $12,000 and liabilities increased by $15,000 in 2012.
c. Total Stockholders' Equity as of December 31, 2012, assuming that assets decreased by $8,000 and liabilities increased by $14,000 during 2012.
Correct Answer:
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a. $430,000 - 205,000 = $225,0...View Answer
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Correct Answer:
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