Blue Fin started the current year with assets of $714,000, liabilities of $357,000 and common stock of $214,000.?

During the current year, assets increased by $414,000, liabilities decreased by $57,000 and common stock increased by $289,000. There was no payment of dividends to owners during the year.

Use the information above to answer the following question. What was the amount of Blue Fin's change in total stockholders' equity during the year?

3 Answers

Relevance
  • Don G
    Lv 7
    8 months ago
    Favorite Answer

    Assets minus Liabilities = Equity

    Beg Bal - Assets 714 - Liab 357 = Equity of 357

    End Bal - Assets 1,128 - Liab 300 = Equity of 828

    Change in Equity - Increase of 471

    The increase in Common Stock of 289 means Net Income for the year was 182.

  • 8 months ago

    Change in equity = Change in assets - Change in liabilities

    Change in equity = 414000 + 57000 = 471,000

  • Anonymous
    8 months ago

    I know, ask 43 more times rather than asking your instructor who is paid to teach you.

    12 questions, each one asking strangers to do your homework. Lazy & dishonest.

    i WILL find you and wash your mouth out with soap. You will end up in prison.

Still have questions? Get your answers by asking now.