Hollys stockholders equity was 280000 at the beginning of, Ask an Expert

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The 2010 income statement of Holly Enterprises shows operating revenues of $134,800, selling expenses of $38,310, general and administrative expenses of $36,990, interest expense of $580 and income tax expense of $13,920. Holly's stockholders' equity was $280,000 at the beginning of the year and $320,000 at the end of the year. The company has 20,000 shares of stock outstanding at December 31, 2010.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9448034

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