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

question 185

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. Mofro's stockholders' equity changed by what amount from the beginning of the year to the end of the year?

• A) $100,000.
• B) $150,000.
• C) $200,000.
• D) $250,000.

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Definitions:

Union Steward

A union representative elected by fellow workers to serve as their liaison with union officials and management, often playing a crucial role in grievance processes.

Grievance Arises

Refers to situations where an issue or complaint is raised by an employee or a group of employees, typically regarding workplace policies, conditions, or treatments that they find unfair or unsatisfactory.

International Union Federation

An organization that represents and unites trade unions from different countries around the globe, working on common issues affecting workers.

Union Organizing

The process by which workers band together to form a labor union in order to collectively negotiate with their employer over wages, benefits, and conditions.