Question

Wims, Inc., has current assets of $3,400, net fixed assets of $32,500, current liabilities of $2,900, and long-term debt of $6,900. a. What is the value of the shareholders' equity account for this firm

Answer 1

$26,100

Step-by-step explanation:

Shareholders' equity = Total asset - Total liability

Shareholders' equity = (3,400 + 32,500) - (2,900 + 6,900)

Shareholders' equity = 35,900 - 9,800

Shareholders' equity = 26,100

Hence, the value of the shareholders equity is $26,100