Wims, Inc., has current assets of $3,900, net fixed assets of $26,500, current liabilities of $3,400, and long-term debt of $7,5
00. a. What is the value of the shareholders' equity account for this firm?
1 answer:
Answer:
equity = $19500
Explanation:
Given data:
current assets $3900
net fixed assets $26,500
current liabilities $3400
debt = $7500
Total liabilities = current liabilities + long term debt
= 3400 + 7500 = $ 10,900
Total assets = current assets + net fixed assets
= 3900 + 26,500 = $30,400
We know
total assets = total liabilities + equity
30400 = 10900+ equity
equity = $19500
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