On January 1, 2012, Blackstone Company reported assets of $1,000,000 and liabilities of $600,000. During 2012 assets decreased by $200,000 and Equity decreased $250,000. What is the amount of Equity on December 31, 2012
A) $650,000
B) $150,000
C) $400,000
D) $800,000
B
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If a business operates in an industry that does not experience significant cost changes, should the business prepare its production cost report using the FIFO method or the weighted-average method? Explain your answer
What will be an ideal response
A(n) ________ is a series of drawings used to present the visual plan or layout of a commercial along with a description of the audio for each scene.
A. mnemonic B. trailer C. heuristic D. animatic E. storyboard
Which of the following is a correct statement of one of the rules for converting net income to the cash flow from operating activities using the indirect method?
A. Increases in current liabilities are added to net income. B. All noncash expenses and losses are subtracted from net income. C. Decreases in current assets are subtracted from net income. D. Increases in current assets are added to net income.
The last four steps in the accounting cycle include preparing the adjusted trial balance, preparing financial statements, and recording closing and adjusting entries.
Answer the following statement true (T) or false (F)