The Accounts of Mason Company at the End of the Past

question 13

Short Answer

The accounts of Mason Company at the end of the past year report the following amounts:
$\begin{array}{llcc} \text { Accounts } &\text {Amount } \\ \hline\text { Dividends..................} &\$15,500\\ \text {Revenues............................ } &\$79,000\\ \text {Expenses.................................. } &\$43,800\\ \text { Common stock.............. } &2,000\\\end{array}$

If the beginning equity for the year was $173,000, calculate the ending equity for Mason Company.

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Definitions:

Committees of Observation

were bodies established by American colonists during the early stages of the Revolutionary War to enforce the boycott of British goods following the Townshend Acts and to spread the cause of liberty.

Revolutionary Tribunals

Courts established in revolutionary periods, especially noted during the French Revolution, to try enemies of the revolution swiftly and without the same procedural rights as regular courts.

Spy Networks

Organized groups of spies that collect intelligence and conduct espionage operations for governments, organizations, or military units.

Townshend Acts

A series of British Acts of Parliament passed during 1767 and 1768 relating to the British colonies in America, which imposed duties on tea, lead, paint, paper, and glass.