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Jlenok [28]
3 years ago
14

Suppose Hunt Corporation has Accounts receivables of $65,000, Furniture totaling $205,000, and Cash of $52,000. The business has

a $109,000 Note payable and owes a bank $81,000 on account. How much is Hunt’s stockholders’ equity?
Business
1 answer:
Rzqust [24]3 years ago
5 0

Answer:

Stockholders’ equity is $132,000

Explanation:

<u>Assets</u>

Accounts receivables =   $65,000

Furniture totaling        = $205,000

Cash                            <u>=    $52,000</u>

Total Assets                <u>=  $322,000</u>

<u>Equity and Liabilities</u>

<u>Equity</u>

Stockholders’ equity    = $132,000

<u>Liabilities</u>

Note payable               = $109,000

bank                             <u>=    $81,000</u>

Total Equity & Liabilities<u>= $322,000</u>

* Equity=Total Assets-Liabilities=$322,000-($109,000+$81,000)=$132,000

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