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

question 176

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:

Proembryo

An early stage in the development of an embryo, particularly in plants, following fertilization and prior to the formation of recognizable structures.

Basal Cell

A type of cell found at the base of the epidermis and hair follicles, involved in the production of new skin cells.

Drupe

A type of fruit with thin skin and a central stone containing the seed, for example, peaches, plums, and cherries.

Olive

A small, oval fruit with a hard pit and oily flesh, primarily grown in the Mediterranean region, used for its oil and as a food item.