作业帮 > 综合 > 作业

accountingAt the beginning of 2011,Huffer Corporation had to

来源:学生作业帮 编辑:神马作文网作业帮 分类:综合作业 时间:2024/11/16 11:17:34
accounting
At the beginning of 2011,Huffer Corporation had total assets of $217,900,total liabilities of $84,200,common stock of $71,100,and retained earnings of $62,600.During 2011,Huffer had net income of $42,750,paid dividends of $11,900,and issued additional common stock for $12,300.Huffer's total assets at the end of 2011 were $217,900.
Calculate the amount of liabilities that Huffer must have at the end of 2011 in order for the balance sheet equation to balance.
accountingAt the beginning of 2011,Huffer Corporation had to
217900-(71100+62600+42750-11900+12300)=41050
Asset = Liability + Equity
Detail of Equity by the end of 2011: Common Stock = 71100+12300 = 83400
Retained Earning =62600+42750-11900 =93450
Total Equity 176850

So Liability = 217900 (asset by the end of 2011)- 176850 (total Equity) = 41050