# Cornerstone Exercise 1-15 Using the Accounting Equation At the beginning of the year, Morgan Company had total assets of $425 , 000 and total liabilities of$ 26 0 , 000 . Required: Use the fundamental accounting equation to answer the following independent questions: What is total stockholders' equity at the beginning of the year? If, during the year, total assets increased by $73,000 and total liabilities increased by$32,000, what is the amount of total stockholders' equity at the end of the year? If, during the year, total assets decreased by $52,000 and total stockholders' equity increased by$35,000, what is the amount of total liabilities at the end of the year? If, during the year, total liabilities increased by $85,000 and total stockholders' equity decreased by$73,000, what is the amount of total assets at the end of the year?

### Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
Publisher: Cengage Learning
ISBN: 9781337690881

### Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
Publisher: Cengage Learning
ISBN: 9781337690881

#### Solutions

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Chapter 1, Problem 15CE
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