accounting 454220
Aug 29, 2021 | Uncategorized
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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?
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$475,000 |
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$195,000 |
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$715,000 |
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$91,000
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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?
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Net income decreased by $5,000. |
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Cash decreased by $8,700. |
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Net income decreased by $8,700. |
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Cash decreased by $3,700.
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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?
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Net income decreased by $8,100. |
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Cash increased by $4,900. |
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Net income decreased by $3,200. |
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Cash decreased by $8,100. |
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