Unformatted text preview: separate entity assumption implies this transaction does not affect the business. Req. 3 (a) Beginning total assets $500,000 + Changes $249,000 = $749,000 Ending total assets (b) Beginning total liabilities $200,000 + Changes $149,000 = $349,000 Ending total liabilities (c) Ending total assets $749,000 – Ending total liabilities $349,000 = Ending stockholders’ equity $400,000...
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This note was uploaded on 06/27/2008 for the course MBA BUS511 taught by Professor Nia during the Summer '08 term at Glasgow Caledonian University.
- Summer '08