Question

Casello Mowing & Landscaping’s year-end 2018 balance sheet lists current assets of $435,200, fixed assets of $550,800, current liabilities of $416,600, and long-term debt of $314,500.Calculate Casello’s total stockholders’ equity. (Enter your answer in dollars. Round your answer to the nearest dollar amount.)

Answer 1

Answer: Stockholders equity $254,900

Explanation: Stockholders’ equity is the difference in a company's total assets and total liability. From the above question, total stockholders’ equity is calculated thus:

Current assets = $435,200

Fixed assets = $550,800

Total Assets. $986,000

Current liabilities = $416,600

Long-term debt = $314,500

Total liability. $731,100

Total stockholders equity is Total Assets less Total liability.

Total Assets. $986,000

Total liability. ( $731,100 )

Stockholders equity $254,900