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Unformatted text preview: B. Total Assets decrease, Total Liabilities unaffected, and Total Stockholders Equity decrease C. Total Assets unaffected, Total Liabilities increase, and Total Stockholders Equity unaffected D. Total Assets increase, Total Liabilities increase, and Total Stockholders Equity unaffected E. Total Assets unaffected, Total Liabilities unaffected, and Total Stockholders Equity unaffected 18. Katies Caramel and Candy Apples began operations on 1/1/07 and had the following transactions occur during 2007: Stock was issued for $15,000 cash. Supplies worth $12,000 were purchased with cash, by year-end only $3,000 of the supplies were available to be used in 2008. Sold $20,000 worth of coated apples; all collected in cash. Based on the above information for Katie, what was stockholders equity at the end of 2007? A. $15,000 B. $29,000 C. $26,000 D. $35,000 E. $23,000 1 2...
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