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    Bmcarretta's Avatar
    Bmcarretta Posts: 8, Reputation: 1
    New Member
    		  
    #1

    Aug 31, 2013, 06:09 PM
    Accounting
    December 31, 2011
    Assets 34,000
    Liabilities ?
    During year 2011
    Stock issuances 6,000
    Net income (loss) 7,220
    Cash dividends 3,500


    - What is the equity?

    - What is the liability?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Aug 31, 2013, 08:18 PM
    You need the information for year 2010.

    You will have to calculate equity for 2010, which will be assets minus liabilities.

    Once you have Equity for 2010 you will add stock issuances and net income, then subtract cash dividends to get your equity for 2011.

    Now take your assets for 2011 and subtract your equity for 2011 to get your liabilities for 2011.
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