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    parparistute21's Avatar
    parparistute21 Posts: 1, Reputation: 1
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    #21

    Sep 1, 2013, 11:29 AM
    How do I find owners equity given :

    Cash
    Short-term invest.
    Net receivables
    Inventory
    Total assets
    Total current liabilities
    Long term note payable
    Income from operations
    Interest expense
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #22

    Sep 1, 2013, 01:03 PM
    First add your total current liabilities and your long-term liabilities together to get total liabilities.

    Now take your total assets and subtract your total liabilities to get owners equity.

    The rest of the amounts are not needed.
    danigee18's Avatar
    danigee18 Posts: 2, Reputation: 1
    New Member
    		  
    #23

    Sep 9, 2013, 07:11 PM
    December 31, 2013

    Assets = Liabilities + Equity
    ? = 29,000 + Equity


    Company C
    Assets?
    Liabilities: 29,000

    During year: Stock Issuances 6,000
    Net Income : 8,000
    Cash dividends: 5,875
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #24

    Sep 9, 2013, 07:14 PM
    Not enough information provided. You need additional information for Company C either in Beginning amounts or Ending amounts.
    danigee18's Avatar
    danigee18 Posts: 2, Reputation: 1
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    #25

    Sep 9, 2013, 07:18 PM
    Company C
    December 31, 2012
    Assets 24,000
    Liabilities 9,000

    December 31, 2013
    Assets ?
    Liabilities 29,000

    During year 2013
    Stock issuances 9750
    Net income 8,000
    Cash dividends 5,875

    Need help finding the amount of assets and equity for December 31, 2013.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #26

    Sep 10, 2013, 09:00 AM
    First thing you have to find is equity for 2012. The basic accounting equation is:
    Assets = Liabilities + Equity

    Rewritten as:
    Equity = Assets - Liabilities

    Now you can find Equity for 2013. The formula is:
    Ending Equity (2013) = Beginning Equity (2012) + Stock Issuances + Net Income - Cash Dividends

    Now that you have Equity for 2013 you can solve for Assets for 2013. The formula is:
    Assets (2013) = Liabilities (2013) + Equity (2013).
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