Katherine Brewer is the stockholder and operator of Our Idol LLC, a motivational consulting business. At the end of its accounting period,December 31, 2017, Our Idol has assets of $574,000 and liabilities of $138,000. Using the accounting equation, determine the followingamounts:a. Stockholders' equity as of December 31, 2017.b. Stockholders' equity as of December 31, 2018, assuming that assets increased by $109, 000 and liabilities decreased by $33, 000 during2018.

To solve this question, we will use the accounting equation: Assets=Liabilities+Stockholders' Equity…

Answered: Katherine Brewer is the stockholder and…

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter17: Financial Statement Analysis

Section: Chapter Questions

Problem 17E

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What is the total stockholder's equity on these general accounting question?
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Be- the-One is a motivational consulting business. At the end of its accounting period, December 31, 2017, Be-the-One has assets of $395,000 and liabilities of $97,000. Using the accounting equation, determine the following amounts:a. Stockholders' equity as of December 31.2017b. Stockholders' equity as of December 31, 2018, assuming that assets decreased by $65,000 and liabilities increased by $36,000 during 2018
General Accounting
Casello Mowing & Landscaping’s year-end 2018 balance sheet lists current assets of $436,600, fixed assets of $551,400, current liabilities of $418,000, and long-term debt of $317,300. Calculate Casello’s total stockholders’ equity. (Enter your answer in dollars. Round your answer to the nearest dollar amount.)
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The stockholders’ equity of Kowalski Company at the beginning and end of 2018totaled $122,000 and $140,000, respectively. Assets at the beginning of 2018 were $149,000. Ifthe liabilities of Kowalski Company increased by $69,000 in 2018, how much were total assetsat the end of 2018? Use the accounting equation.a. $218,000b. $62,000c. $236,000d. $220,000
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What is the total stockholder's equity

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