As of January 1,2010,a Corporation Had Assets of $340,000 and Liabilities

question 87

Short Answer

As of January 1,2010,a corporation had assets of $340,000 and liabilities of $120,000.During 2010,assets increased $45,000 and liabilities increased $15,000.What was stockholders' equity on December 31,2010?

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Definitions:

Extinction

The process by which a learned behavior diminishes or disappears as a result of the repeated absence of an unconditioned stimulus or reinforcement.

Reward Centers

Brain structures that regulate the experience of pleasure and motivate individuals towards behaviors necessary for survival, such as eating and reproduction.

Latin Word

A term originating from Latin, a classical language that has contributed to many words in modern languages, especially in science, law, and medicine.

Knowledge

Facts, information, and skills acquired through experience or education; awareness or familiarity gained by experience of a fact or situation.