Stockholders’ equity and total assets were $128,000 and $316,000 respectively at the beginning of the period....
Stockholders’ equity and total assets were $128,000 and $316,000
respectively at the beginning of the period. Assets increased 50%
and liabilities decreased 60% during the period.
What is stockholders’ equity at the end of the period?
Homework Answers
Total assets=Total liabilities+Total equity
Hence total liabilities at beginning=316,000-128,000=$188,000
Ending assets=316,000*1.5=474,000
total liabilities at end=188,000*(1-0.6)=$75200
Hence ending stockholders equity=474,000-75200
=$398800
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