Mofro's Computer Repair Shop Started the Year with Total Assets

question 10

Multiple Choice

Mofro's Computer Repair Shop started the year with total assets of $300,000 and total liabilities of $200,000. During the year, the business recorded $500,000 in computer repair revenues, $300,000 in expenses, and Mofro paid dividends of $50,000. Stockholders' equity at the end of the year was

• A) $200,000.
• B) $100,000.
• C) $250,000.
• D) $300,000.

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