Question

At the end of last year, the company's assets totaled $879,000 and its liabilities totaled $749,500. During the current year, the company's total assets increased by $59,900 and its total liabilities increased by $24,950.

At the end of the current year, stockholders' equity was $______.

Answer 1

$ 164,450

Step-by-step explanation:

Opening assets = $879,000

Opening liabilities = $ 749,500

Increase in Assets = $59,900

Increase in Liabilities = $24,950

Closing assets = Opening Assets + Increase in Assets

= $879,000 + $59,900

= $ 938,900

Closing Liabilities = Opening Liabilities + Increase in Liabilities

= $749,500 + $24,950

= $ 774,450

At the end of the current year,

Stockholder's Equity = Total Assets- Total Liabilities

= $ 938,900 - $ 774,450

= $ 164,450