Vista Camera Services Started the Year with Total Assets of $110,000

question 110

Multiple Choice

Vista Camera Services started the year with total assets of $110,000 and total liabilities of $45,000.The revenues and the expenses for the year amounted to $120,000 and $90,000,respectively.During the year,the company did not issue any common stock,but it distributed dividends of $50,000.What is the amount of stockholders' equity at the end of the year?

• A)$90,000
• B)$120,000
• C)$45,000
• D)$50,000

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Definitions:

Nonconformists

Individuals who refuse to follow established customs, attitudes, or ideas, often promoting individuality and independence.

Overlapping Domains

Areas of knowledge or activity that share common attributes, functions, or objectives, yet remain distinct in some aspects.

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The process of examining one's own thoughts and feelings.

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The act of finding something not previously known or recognized; in legal contexts, it involves the pre-trial process where parties obtain evidence from each other.