Determine the stockholders equity as of december

Assignment Help Accounting Basics
Reference no: EM132858207

Question - Accounting Equation - Jan Petri is the stockholder and operator of Our Idol LLC, a motivational consulting business. At the end of its accounting period, December 31, 20Y2, Our Idol has assets of $739,000 and liabilities of $177,000. 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 decreased by $140,000 and liabilities decreased by $42,000 during 20Y3.

Reference no: EM132858207

Questions Cloud

Describe what materials are recyclable in area : Describe what materials are recyclable in your area and how you would recycle if you chose to (i.e. curbside recycling, taking to a recycling center).
What is the firm cash position : What is the firm's cash position? Does the firm reflect positive cash balances for the last three years? What methods of short-term financing does the firm use
Classify the disease by use of the epi triangle : Identify the disease. Classify the disease by use of the Epi Triangle. What is the history of the disease? Identify 3 different outbreaks of the disease.
How much net income was earned from the venture : Bray and Lincoln advanced $240 and $360 of their own respective funds to pay for advertising and other expenses. How much net income was earned from the venture
Determine the stockholders equity as of december : Determine the Stockholders' equity as of December 31, 20Y3, assuming that assets decreased by $140,000 and liabilities decreased by $42,000 during 20Y3
Discuss what talent management : Discuss what talent management is and why it is a consideration addressed by a growing number of employers.
What is the quoted price of the bond : The bond has a yield to maturity of 6.5 percent, a par value of $2,000, and matures in 17 years. What is the quoted price of the bond
Find an approximation for the probability : Find an approximation for the probability that in 1000 hands of poker you will be dealt at least 2 full houses
Transformational and transactional leadership : How do transformational and transactional leadership differ?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd