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Determine the Stockholders equity as of December

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Problem - Accounting equation - Dream-It LLC is a motivational consulting business. At the end of its accounting period. December 31, 20Y2, Dream-It has assets of $780,000 and liabilities of $150,000. Using the accounting equation, determine the following amounts:

a. Stockholders' equity as of December 31, 20Y2.

b. Stockholders' equity as of December 31, 20Y3, assuming that assets increased by $90,000 and liabilities increased by $25,000 during 20Y3.

Reference no: EM132738564

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