What is the amount of equity on December 31, 2011?
December 31, 2011
Assets=44000
Liabilities ?
During year 2011
Stock issuances 6,000
Net income(loss) 9,920
Cash dividends 3,500
Liability and Equity
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What is the amount of equity on December 31, 2011?
December 31, 2011
Assets=44000
Liabilities ?
During year 2011
Stock issuances 6,000
Net income(loss) 9,920
Cash dividends 3,500
Liability and Equity
Add Net Income to your stock issuances, then subtract your cash dividends to get Owners Equity.
Assets minus Owners Equity equals Liabilities.
You should read fundamental accounting principles
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