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Tasya [4]
3 years ago
9

Dave Ryan is the CEO of Ryan's Arcade. At the end of its accounting period, December 31, Ryan's Arcade has assets of $632,000 an

d liabilities of $220,310. Using the accounting equation, determine the following amounts: a) Stockholders' equity as of December 31 of the current year. $ b) Stockholders' equity as of December 31 at the end of the next year, assuming that assets increased by $84,040 and liabilities increased by $17,800 during the year. $
Business
1 answer:
o-na [289]3 years ago
8 0

Answer:

a) Stockholders' equity  = $411,690

b) Stockholders' equity  = $477,930

Explanation:

Accounting equation is defined as Assets = Liabilities + Equity.

a) If t the end of its accounting period, December 31, Ryan's Arcade has assets of $632,000 and liabilities of $220,310, the Stockholders' equity as of December 31 of the current year would be determined as follows:

$632,000 = $220,310 + Equity

Stockholders' equity  = $632,000 - $220,310

Stockholders' equity  = $411,690

b) If assets increased by $84,040 and liabilities increased by $17,800 during the next year, then Stockholders' equity would be determined as follows:

$632,000 + $84,040 = $220,310 + $17,800 + Equity

$716,040 = $238,110 + Equity

Stockholders' equity  = $477,930

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2 years ago
A firm has 4,250 shares of stock outstanding with a market value of $16.65 a share, $64,800 of long-term debt with an interest r
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6 0
2 years ago
Gina and Chen are both managers at CPA4U, a large accounting firm. Each has a very different management style. Gina is very outg
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Answer:

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3 years ago
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Answer:

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4 0
3 years ago
Assume that you hold a well-diversified portfolio that has an expected return of 11.0% and a beta of 1.20. The total value of yo
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Answer:

hope this helps

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1.25​

Explanation:

7 0
2 years ago
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