Ask Question
13 July, 08:31

At the end of the current period, Maltese, Inc. reports the following amounts: Assets = $52,300; Liabilities = $21,100; Dividends = $5,810; Revenues = $20,100; Expenses = $13,600. Calculate net income and stockholders' equity at the end of the period.

+4
Answers (1)
  1. 13 July, 08:55
    0
    SE = 30,510

    Explanation:

    We are going to use the accounting equation to solve for SE:

    Assets = Liablities + Equity

    Assets = Liab + SE + net income - dividends

    First we have to solve for net income:

    20,100 Revenues - 13,600 expenses = 6,500 net income

    Now we can post the know value in the formula an solve for Stockholders equity:

    52,300 = 21,100 + SE + 6,500 - 5,810

    SE = 52,300 - 21,1000 + 6,500 + 5,810

    SE = 30,510
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “At the end of the current period, Maltese, Inc. reports the following amounts: Assets = $52,300; Liabilities = $21,100; Dividends = $5,810; ...” 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