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    Lover980's Avatar
    Lover980 Posts: 1, Reputation: 1
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    #1

    Jan 27, 2015, 11:16 AM
    I'm given liabilities how to figure out assets and equity
    Company C
    dec.31 2012.
    Assests 24,000
    Liabilities. 9,000

    dec. 31 2013
    Assets _____
    Liabilities. 29,000

    During year 2013
    Stock issuances. 9,750
    Net incom loss. 8,000
    Cash dividends. 5,875

    What is the assets for dec31 2013?
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Jan 28, 2015, 04:15 AM
    Assets minus liabilities equals equity
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #3

    Jan 28, 2015, 10:58 AM
    First you need to get your 1 Jan 2013 equity, which is your 31 Dec 2012 equity. Simply take your 31 Dec 2012 minus your 31 Dec liabilities.

    Next take your 1 Jan 2013 equity and either add or subtract your amounts during the year to get your 31 Dec 2013 equity.
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