Question

Steeler Company has $71,000 in total assets and $44,000 in total liabilities. What is the amount of its stockholders' equity

Answer 1

Answer:

the amount of its stockholders' equity is $30,000

Explanation:

From The Accounting Equation, we know that :

Assets - Liability = Equity

Therefore,

Equity = $71,000 - $44,000

          = $30,000