Question

Ending liabilities are 68,100, beginning equity was $89,100, common stock issued during year totaled $32,100, expenses for the year were $23,100, dividends declared totaled $14,100, ending equity for the year is $183,750, and beginning assets for the year were $224,200. What are the ending assets for the year

Answer 1

Answer:

$251,850

Explanation:

The computation of the ending assets for the year is shown below:

As we know that

Total assets = Total liabilities + Stockholder equity

Since the ending liabilities and ending equity is given so we can easily find out the ending assets by applying the above accounting equation

So, the ending assets is

= $183,750 + $68,100

= $251,850