Fat Possum's Service Shop Started the Year with Total Assets

question 142

Multiple Choice

Fat Possum's Service Shop started the year with total assets of $330,000 and total liabilities of $240,000.During the year, the business recorded $630,000 in revenues, $420,000 in expenses, and paid dividends of $60,000. Stockholders' equity at the end of the year was

• A)$90,000.
• B)$240,000.
• C)$300,000.
• D)$360,000.

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Definitions:

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A process in psychology that strengthens or weakens a behavior by adding or removing a stimulus after the behavior occurs.

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