Determine the Stockholders equity as of December

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Question - Dave Ryan is the CEO of Ryan's Arcade. At the end of its accounting period, December 31, Ryan's Arcade has assets of $450,000 and liabilities of $125,000. Using the accounting equation, determine the following amounts:

a. Stockholders' equity as of December 31 of the current year.

b. Stockholders' equity as of December 31 at the end of the next year, assuming that assets increased by $65,000 and liabilities Increased by $35,000 during the year.

Reference no: EM133091131

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