Log in

View Full Version : Accounting Question


sayoung03
Jan 28, 2019, 08:05 PM
How do I find the amount of liabilities for a company for a previous year?

The following info is what I have to figure from...

2016
Asset is 119,000
Liabilities??

2017
Asset is 113,000
Liabilities 70,000

During year 2017
Stock issuances 6500
Net income 20,000
Cash Dividends 11,000

I know the equity for 2017 is 43,000

Thank you!

paraclete
Feb 9, 2019, 02:41 PM
How do I find the amount of liabilities for a company for a previous year?

The following info is what I have to figure from...

2016
Asset is 119,000
Liabilities??

2017
Asset is 113,000
Liabilities 70,000

During year 2017
Stock issuances 6500
Net income 20,000
Cash Dividends 11,000

I know the equity for 2017 is 43,000

Thank you!Assets - Equity = liabilities

you are given the movements in equity therefore you can establish the equity in 2016