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3 June, 15:59

Wims, Inc., has current assets of $3,900, net fixed assets of $26,500, current liabilities of $3,400, and long-term debt of $7,500. a. What is the value of the shareholders' equity account for this firm?

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  1. 3 June, 16:28
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    equity = $19500

    Explanation:

    Given dа ta:

    current assets $3900

    net fixed assets $26,500

    current liabilities $3400

    debt = $7500

    Total liabilities = current liabilities + long term debt

    = 3400 + 7500 = $ 10,900

    Total assets = current assets + net fixed assets

    = 3900 + 26,500 = $30,400

    We know

    total assets = total liabilities + equity

    30400 = 10900 + equity

    equity = $19500
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