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  • Jan 28, 2019, 08:05 PM
    sayoung03
    Accounting Question
    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!
  • Feb 9, 2019, 02:41 PM
    paraclete
    Quote:
    Originally Posted by sayoung03 View Post
    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

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