shaheedbrown06
25.02.2020 •
Business
Finore Manufacturing has the following amounts on its 12/31/14 balance sheet. Cash $150 Other current assets 397 Property, plant, & equipment, net of depreciation 538 Current liabilities 324 Total Liabilities 504 What was Finore Manufacturing’s equity as on December 31, 2014?
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Ответ:
$581
Explanation:
The accounting equation gives the relationship between elements of the balance sheet as
Assets = Liabilities + Equity
Given that for Finore Manufacturing on 12/31/14, it's balance sheet
Cash = $150
Other current assets = $397
Property, plant, & equipment, net of depreciation = $538
Current liabilities = $324
Total Liabilities = $504
Hence, total assets = $150 + $397 + $538
= $1085
Finore Manufacturing’s equity as on December 31, 2014
= $1085 - $504
= $581
Ответ:
$66,767.185
Explanation:
Since they are equal partners we devide profits by 2:
$133,534.37 / 2 = $66,767.185