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Vista Camera Services started the year with total assets of $110,000 and total liabilities of ...

H3Ko

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7 years ago

Vista Camera Services started the year with total assets of $110,000 and total liabilities of ...

Vista Camera Services started the year with total assets of $110,000 and total liabilities of $45,000. The revenues and the expenses for the year amounted to $120,000 and $90,000, respectively. During the year, the company did not issue any common stock, but it distributed dividends of $50,000. What is the amount of stockholders' equity at the end of the year?
A) $90,000
B) $50,000
C) $120,000
D) $45,000

Textbook

Horngren's Financial & Managerial Accounting, The Financial Chapters

Edition: 5^th

Authors: Miller-Nobles, Mattison, Matsumura

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butterfly127

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7 years ago

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H3Ko Author

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7 years ago

I posted this question a while back then forgot to check the forum lol Thanks for answering, you were right

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butterfly127

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7 years ago

You are welcome!!

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