Ask Question
3 October, 14:35

Suppose Hunt Corporation has Accounts receivables of $65,000, Furniture totaling $205,000, and Cash of $52,000. The business has a $109,000 Note payable and owes a bank $81,000 on account. How much is Hunt's stockholders' equity?

+3
Answers (1)
  1. 3 October, 14:53
    0
    Stockholders' equity is $132,000

    Explanation:

    Assets

    Accounts receivables = $65,000

    Furniture totaling = $205,000

    Cash = $52,000

    Total Assets = $322,000

    Equity and Liabilities

    Equity

    Stockholders' equity = $132,000

    Liabilities

    Note payable = $109,000

    bank = $81,000

    Total Equity & Liabilities = $322,000

    * Equity=Total Assets-Liabilities=$322,000 - ($109,000+$81,000) = $132,000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Suppose Hunt Corporation has Accounts receivables of $65,000, Furniture totaling $205,000, and Cash of $52,000. The business has a $109,000 ...” 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