Ex. 181
At the beginning of 2011, Bonds Company had total assets of $650,000 and total liabilities of $390,000. Answer each of the following questions.
1.If total assets increased $60,000 and stockholders' equity decreased $90,000 during the year, determine the amount of total liabilities at the end of the year.
2.During the year, total liabilities decreased $75,000 and stockholders' equity increased $50,000. Compute the amount of total assets at the end of the year.
3.If total assets decreased $100,000 and total liabilities increased $55,000 during the year, determine the amount of stockholders' equity at the end of the year.
Ex. 182
Compute the missing amount in each category of the accounting equation.
Assets LiabilitiesStockholders' Equity
(a)$299,000$ ?$143,000
(b)$223,000$ 79,000$ ?
(c)$ ?$153,000$325,000