Ask Question
20 August, 00:24

Assets totaled $24,750 and liabilities totaled $8,550 at the beginning of the year. During the year, assets decreased by $3,550 and liabilities increased by $2,850. What is the amount of the change in stockholders' equity during the year?

+3
Answers (1)
  1. 20 August, 00:25
    0
    Amount of the change in stockholders' equity during the year is $6,400 (Decrease)

    Explanation:

    Assets = $24,750

    Liabilities = $8,550

    Equity = Assets - Liability

    Equity at Beginning : $24,750 - $8,550 = $16,200

    Equity at End : ($24,750 - $3,550) - ($8,550+$2,850)

    = $21,200 - $11,400

    = $9,800

    Change in Stock holder's Equity : $16,200 - $9,800

    = $6,400 (Decrease)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Assets totaled $24,750 and liabilities totaled $8,550 at the beginning of the year. During the year, assets decreased by $3,550 and ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers