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Transactions that affected stockholders equity

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Reference no: EM131588166

Question: Entity C had the following balances at January 1, 2016. Assets = $140,000 Liabilities = $50,000 Stockholders' Equity = $90,000 At December 31, 2016, the balances changed to the following amounts. Assets = $190,000 Liabilities = $70,000 Stockholders' Equity = to be determined The only transactions that affected stockholders' equity during 2016 were revenues and expenses. If Entity C recorded $110,000 revenues, what is the amount of expenses during 2016?

Reference no: EM131588166

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