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    epyacob's Avatar
    epyacob Posts: 2, Reputation: 1
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    #1

    Feb 10, 2012, 05:27 PM
    Amigo Software, Inc. has total assets of $884,000, current liabilities of $177,000,
    Amigo Software, Inc. has total assets of $884,000, current liabilities of $177,000, and long-term liabilities of $167,000. There is $129,000 in preferred stock outstanding. Thirty thousand shares of common stock have been issued.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Feb 10, 2012, 05:46 PM
    Owners Equity = Total Assets - Total Liabilities. So simply add your liabilities together, then subtract it from your total assets to get Owners Equity. Subtract Preferred stock from Owners Equity and you get your Common Stock amount.
    rehmanvohra's Avatar
    rehmanvohra Posts: 739, Reputation: 27
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    #3

    Feb 11, 2012, 04:33 AM
    Baes on Pready's suggestion the common stock amount will be $411,000. As the face value of common shares is not known, it may be assumed to be $100 par which means that the balance of $111,000 will represent additional paid in capital.
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