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I just need help with part C. I've continuously worked it outand I keep getting 81,000 but it keeps telling me its wrong.

At the beginning of the year, Morales Company had total assetsof $834,000 and total liabilities of $546,000. (Treat each itemindependently.)

(a) If total assets increased $177,000 during the year and totalliabilities decreased $86,000, what is the amount of stockholders’equity at the end of the year?

Stockholders’ equity $551,000

(b) During the year, total liabilities increased $104,000 andstockholders’ equity decreased by $60,000. What is the amount oftotal assets at the end of the year?

Total assets $878,000

(c) If total assets decreased $82,000 and stockholders’ equityincreased $120,000 during the year, what is the amount of totalliabilities at the end of the year?

Total liabilities $81,000

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Beverley SmithLv2
28 Sep 2019
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b) During the year, total liabilities increased $106,964 andstockholders' equity decreased $68,769. What is the amount of totalassets at the end of the year.

(c) If total assets decreased $85,779 and stockholders' equityincreased $105,592 during the year, what is the amount of totalliabilities at the end of the year?

At the beginning of the year, Hernandez Company had total assets of$800,000 and total liabilities of $500,000. Answer the followingquestions.

(a) If total assets increased $150,000 during the year and totalliabilities decreased $80,000, what is the amount of owner's equityat the end of the year?

$

(b) During the year, total liabilities increased $100,000 andowner's equity decreased $70,000 What is the amount of total assetsat the end of the year?

$

(c) If total assets decreased $80,000 and owner's equity increased$120,000 during the year, what is the amount of total liabilitiesat the end of the year?

NEED ASAP PLEASE

Question 1

Which one of the following is not an externaluser of accounting information?

Customers

Investors

Regulatory agencies

All of these are external users

3 points

Question 2

The first step in solving an ethical dilemma is to

identify and analyze the principal elements in thesituation.

identify the alternatives.

recognize an ethical situation and the ethical issuesinvolved.

weigh the impact of each alternative on variousstakeholders.

3 points

Question 3

Generally accepted accounting principles are

income tax regulations of the Internal Revenue Service.

standards that indicate how to report economic events.

theories that are based on physical laws of the universe.

principles that have been proven correct by academicresearchers.

3 points

Question 4

Which of the following events is not a businesstransaction?

Issuance of stock in exchange for cash.

Hired employees.

Incurred utility expenses for the month.

Earned revenue for services provided.

3 points

Question 5

When assets are distributed to the owners of a corporation,these distributions are termed

depletions.

consumptions.

dividends.

a credit line.

3 points

Question 6

If total liabilities increased by $8,000, then

assets must have decreased by $8,000.

stockholders' equity must have increased by $8,000.

assets must have increased by $8,000, or stockholders' equitymust have decreased by $8,000.

assets and stockholders' equity each increased by $4,000.

3 points

Question 7

If total liabilities increased by $30,000 and stockholders'equity increased by $20,000 during a period of time, then totalassets must change by what amount and direction during that sameperiod?

$50,000 decrease

$10,000 decrease

$10,000 increase

$50,000 increase

3 points

Question 8

Misra Company compiled the following financial information as ofDecember 31:

Revenues

$ 340,000

Retained Earnings, Beginning

$ 60,000

Equipment

$ 80,000

Expenses

$ 250,000

Cash

$ 90,000

Dividends

$ 20,000

Supplies

$ 10,000

Accounts payable

$ 40,000

Accounts receivable

$ 70,000

Common Stock

$ 80,000

Misra's assets on December 31 are

$180,000.

$250,000.

$360,000.

$ 490,000.

3 points

Question 9

Mofro's Computer Repair Shop started the year with total assetsof $300,000 and total liabilities of $200,000. During the year, thebusiness recorded $500,000 in computer repair revenues, $300,000 inexpenses, and Mofro paid dividends of $50,000. Stockholders' equityat the end of the year was

$200,000.

$100,000.

$250,000.

$300,000.

3 points

Question 10

A balance sheet shows

assets, liabilities, and stockholders' equity.

expenses, dividends, and stockholders' equity.

revenues, expenses, and dividends.

revenues, liabilities, and stockholders' equity.

3 points

Question 11

At September 1, Foli Co. reported retained earnings of $136,000.During the month, Foli generated revenues of $20,000, incurredexpenses of $12,000, purchased equipment for $5,000 and paiddividends of $2,000. What is the amount of retained earnings atSeptember 30?

$136,000

$142,000

$8,000

$137,000

3 points

Question 12

Grayton Industries purchased supplies for $1,000. The Companypaid $500 in cash and agreed to pay the balance in 30 days. Thejournal entry to record this transaction would include a debit toan asset account for $1,000, a credit to a liability account for$500. Which of the following would be the correct way to completethe recording of the transaction?

Credit an asset account for $500.

Credit the Retained Earnings account for $500.

Credit another liability account for $500.

Debit the Retained Earnings account for $500.

3 points

Question 13

Radio Moscow Industries purchased supplies for $1,000. They paid$400 in cash and agreed to pay the balance in 30 days. The journalentry to record this transaction would include a debit to an assetaccount for $1,000, a credit to a liability account for $600. Whichof the following would be the correct way to complete the recordingof the transaction?

Credit an asset account for $400.

Credit another liability account for $400.

Credit the retained earnings account for $400.

Debit the retained earnings account for $400.

3 points

Question 14

A credit to a liability account

must be accompanied by a debit to an asset account.

indicates an increase in the amount owed to creditors.

is an error.

indicates a decrease in the amount owed to creditors.

3 points

Question 15

In recording business transactions, evidence that an accountingtransaction has taken place is obtained from

business documents.

the Internal Revenue Service.

the public relations department.

the SEC.

3 points

Question 16

On June 1, Leno Inc. buys a copier machine for her business andfinances this purchase with cash and a note. When journalizing thistransaction, the company's accountant will

make a simple entry.

use two journal entries.

make a compound entry.

list the credit entries first, which is proper form for thistype of transaction.

3 points

Question 17

A three column form of account is so named because it hascolumns for

debit, credit, and balance.

debit, credit, and date.

debit, credit, and account name.

debit, credit, and reference.

3 points

Question 18

The first step in designing a computerized accounting system isthe creation of the

general ledger.

general journal.

trial balance.

chart of accounts.

3 points

Question 19

Chik Chik Company showed the following balances at the end ofits first year:

Cash

$ 6,000

Prepaid insurance

$ 9,400

Accounts receivable

$ 7,000

Accounts payable

$ 5,600

Notes payable

$ 8,400

Common stock

$ 2,800

Dividends

$ 1,400

Revenues

$ 44,000

Expenses

$ 35,000

What did Chik Chik Company show as total credits on its trialbalance?

$51,400

$60,800

$62,200

$70,200

3 points

Question 20

Which of the following time periods would notbe referred to as an interim period?

Monthly

Quarterly

Semi-annually

Annually

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