Assignment Detail

Tutors

What is the amount of shareholders equity at the end of year

    Assignment Instructions

    Assignment ID: FG132484749

    At the beginning of the year, Xul Ltd. had total assets of $720,000 and total liabilities of $420,000. Use this information to answer each of the following independent questions.
    Question (a) If Xul’s total assets increased by $250,000 during the year and total liabilities decreased by $80,000, what is the amount of shareholders’ equity at the end of the year?
    Question (b) During the year, Xul’s total liabilities decreased by $100,000. The company reported net income of $90,000, sold additional shares for $125,000, and did not declare any dividends during the year. What is the amount of total assets at the end of the year?
    Question (c) If Xul’s total assets decreased by $90,000 during the year and shareholders’ equity increased by $120,000, what is the amount of total liabilities at the end of the year?

    Need fresh solution to this Assignment without plagiarism?? Get Quote Now

    Expert Answer

    Asked by: Anonymous
    Plagiarism Checked
    Answer Rating:
    4.6/5

    Plagiarism free Answer files are strictly restricted for download to the student who originally posted this question.

    Related Assignments

    //
    Our customer support team is here to answer your questions. You can send Assignments directly to support team.
    👋 Hi, how can I help?