Solution for QID #8498: Todd Olson is the sole stockholder and operator of Alpha, a | StudyHelpMe

Todd Olson is the sole stockholder and operator of Alpha, a motivational consulting bossiness. At the end of its accounting period, December 31, 2011, Alpha has assets of $800,000 and liabilities of $350,000. Using the accounting equation and considering each case independently, determine the following amounts: a. Stockholders’ equity as of December 31, 2011. b. Stockholders’ equity as of December 31. 2012, assuming that assets increased by $150,000 and liabilities increased h $70,000 during 2012. c. Stockholders’ equity as of December 31. 2012, assuming that assets decreased by $60,000 and liabilities increased by $20.000 during 2012 d. Stockholder’s equity as of December 31, 2012, assuming that assets increase by $100,000 and liabilities decreased by $40,000 during 2012. e. Net income (or net loss) during 2012, assuming that as of December 31, 2012, assets were $975,000, liabilities were $400,000, and no additional capital stock was issued or dividends paid.