crazyskill8
New member
Dec 31 2008 Assets- $131,040 Liabilities- ? Equity-?
Dec 31, 2009 Assets-$140,760 Liabilities- $111,200 Equity $140,760-$111,200
During Year 2009
Stock Issuance -$6500
Net Income- $7852
Cash Dividends-$11,000
This is exactly what the problem states. They want to know what Liabilities are for 2008 and the amount of equity for 2008
Dec 31, 2009 Assets-$140,760 Liabilities- $111,200 Equity $140,760-$111,200
During Year 2009
Stock Issuance -$6500
Net Income- $7852
Cash Dividends-$11,000
This is exactly what the problem states. They want to know what Liabilities are for 2008 and the amount of equity for 2008