[Bmcarretta]

December 31, 2010
Assets $ 19,840
Liabilities 10,713

December 31, 2011
Assets ?
Liabilities 11,162

During year 2011
Stock issuances 9,750
Net income (loss) (1,384)
Cash dividends 5,875


- Calculate the amount of assets on December 31, 2011

[pready]

Start with Equity at 2010, which is Assets - Liabilities.

Now with Equity at 2010 add stock issuances and net income, then subtract cash dividends. Now you have equity for 2011.

Now with equity for 2011 and liabilities for 2011 you just add the two numbers together to Assets for 2011.

[Bmcarretta]

I get 25,548.00 for Assets for 2011, but I get a wrong when I submit the answer.

[pready]

I came up with 22,780 for assets.

Did you add net income of 1,384? This was a loss so you should have subtracted it or added it as a negative number to beginning equity.

[Bmcarretta]

22780.00 is correct. Thank you so much!