Answer:
Stockholders’ equity is $132,000
Explanation:
Assets
Accounts receivables = $65,000
Furniture totaling = $205,000
Cash = $52,000
Total Assets = $322,000
Equity and Liabilities
Equity
Stockholders’ equity = $132,000
Liabilities
Note payable = $109,000
bank = $81,000
Total Equity & Liabilities= $322,000
* Equity=Total Assets-Liabilities=$322,000-($109,000+$81,000)=$132,000
Answer:
Hunt’s stockholders’ equity is $ 132,000
Explanation:
Assets
Accounts receivables = $65,000
Furniture totaling = $205,000
Cash = $52,000
Total Assets = $322,000
Equity and Liabilities
Equity
Stockholders’ equity = $132,000
Liabilities Note payable = $109,000
bank = $81,000
Total Equity & Liabilities= $322,000
Equity=Total Assets-Liabilities
Therefore,
$322,000-($109,000+$81,000)=$132,000
Hence, Hunt’s stockholders’ equity is $ 132,000
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