At Westonci.ca, we make it easy for you to get the answers you need from a community of knowledgeable individuals. Get accurate and detailed answers to your questions from a dedicated community of experts on our Q&A platform. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform.
Sagot :
The equity for the provided information as of December 31 is $ 311,000.
As we know Liabilities are the amounts to others whereas Assets are the items controlled and owned by the particular company and Equity refers to accumulated earnings and contributed capital.
So the basic equation we refer to for calculating the equity is
Assets = Liabilities + Equity
As we are provided that,
liabilities $ 148,000
cash 64,000
equipment 213,000
buildings 182,000
So,
the total assets ( sum of cash, equipment, and buildings ) are $459000.
Referring the equation, the equity = Assets - liabilities
= 4590000-148000
= 3110000
The desired equity is $311,000.
To know more about equity, asset and liabilities refer to the link https://brainly.com/question/15572405?referrer=searchResults
#SPJ4
Thank you for trusting us with your questions. We're here to help you find accurate answers quickly and efficiently. We appreciate your time. Please revisit us for more reliable answers to any questions you may have. We're glad you visited Westonci.ca. Return anytime for updated answers from our knowledgeable team.
