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

question 135

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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Definitions:

Intellectual Property Rights

Legal rights that grant creators protection for their inventions, literary and artistic works, symbols, names, and images created by the mind.

Ethical Issue

A situation or problem that requires individuals or organizations to choose between alternatives that must be evaluated as right (ethical) or wrong (unethical).

Ethical Issue

A problem or situation that requires a person or organization to choose between alternatives that must be evaluated as right or wrong.

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