Homework Help is Here – Start Your Trial Now!
Business
Accounting
How do I get both sides to balance? Assets =Liabilities and Stockholders Equity? I cant seem to find the shareholders equity amount.     Assets     Liabilities and Stockholders Equity   Cash  $  7,000.00   Accounts Payable $14,000 Accounts Recievable  $ 19,000.00   Long-Term Debt $140,000 Inventory  $170,000.00   Shareholders Equity $7,000 PP&E  $ 70,000.00         266,000     $161,000           Cash  $             7,000.00       inventory of TV  $         170,000.00       PP&E 70000       Accounts Recievable  $           19,000.00       Accounts Payable $14,000       Long-Term Debt $140,000       Shareholders Equity XX

How do I get both sides to balance? Assets =Liabilities and Stockholders Equity? I cant seem to find the shareholders equity amount.     Assets     Liabilities and Stockholders Equity   Cash  $  7,000.00   Accounts Payable $14,000 Accounts Recievable  $ 19,000.00   Long-Term Debt $140,000 Inventory  $170,000.00   Shareholders Equity $7,000 PP&E  $ 70,000.00         266,000     $161,000           Cash  $             7,000.00       inventory of TV  $         170,000.00       PP&E 70000       Accounts Recievable  $           19,000.00       Accounts Payable $14,000       Long-Term Debt $140,000       Shareholders Equity XX

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
100%

How do I get both sides to balance? Assets =Liabilities and Stockholders Equity? I cant seem to find the shareholders equity amount.

 

 

Assets     Liabilities and Stockholders Equity  
Cash  $  7,000.00   Accounts Payable $14,000
Accounts Recievable  $ 19,000.00   Long-Term Debt $140,000
Inventory  $170,000.00   Shareholders Equity $7,000
PP&E  $ 70,000.00      
  266,000     $161,000
         
Cash  $             7,000.00      
inventory of TV  $         170,000.00      
PP&E 70000      
Accounts Recievable  $           19,000.00      
Accounts Payable $14,000      
Long-Term Debt $140,000      
Shareholders Equity XX      
Expert Solution
steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Ratio Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS