Homework Answers
According equation states that the Asset side of the balance is equal to the additio of Liabilities and Equity.
Therefore, equation is :-
Asset = Liabilities + Equity
If we need to find Equity, substract liabilities from assets.
Equity = Assets - Liabilities
(a) Stockholders equity as on December 31, 2017 :-
Equity = 652,000 - 156,000 = $496,000
(b) Stockholders equity as on December 31, 2018 :-
Equity = (652,000 - 124,000) - (156,000 - 37,000)
= 528,000 - 119,000 = $409,000
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