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?
- Don GLv 78 months agoFavorite 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.
- olliverLv 68 months ago
Change in equity = Change in assets - Change in liabilities
Change in equity = 414000 + 57000 = 471,000
- Anonymous8 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.
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