Find the total amount of liabilities and shareholder's equity. Assets Liabilities CURRENT CURRENT Cash $4,100 Accts Payable $12,000 Shareholder's Equity FIXED $2,000 $20,000 Equipment Common Stock. Retained Earnings $8,000 Vehicles $5,000 ТОTAL TOTAL $[?]

Find the total amount of liabilities and shareholder's equity. Assets Liabilities CURRENT CURRENT Cash $4,100 Accts Payable $12,000 Shareholder's Equity FIXED $2,000 $20,000 Equipment Common Stock. Retained Earnings $8,000 Vehicles $5,000 ТОTAL TOTAL $[?]

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.

Question

Find the total amount of liabilities
and shareholder's equity.
Assets
Liabilities
CURRENT
CURRENT
Cash
$4,100
Accts Payable
$12,000
Shareholder's Equity
FIXED
$2,000 Common Stock
$20,000
Equipment
$8,000
Vehicles
Retained Earnings _
$5,000
TOTAL
TOTAL $[?]
Enter

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