Jeff4535 Jeff4535

13-01-2021
Business

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If the balance of the Buildings account was $68800 and $5400 of Accounts Payable were paid in cash, what would be the balance of the total stockholders' equity

Respuesta :

16-01-2021

Answer:

the total stockholders' equity will be $63,400

Explanation:

The Balance Sheet uses the Accounting Equation. Accounting Equation is stated as :

Assets = Equity + Liabilities

Also stated differently the Accounting equation will be

Equity = Assets - Liabilities

Where,

Assets = $68,800

Liabilities = $5,400

Therefore,

Equity = $68,800 - $5,400

= $63,400

Conclusion

The total stockholders' equity will be $63,400

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