Ask Question
16 February, 08:52

Wims, Inc., has current assets of $3,900, net fixed assets of $26,500, current liabilities of $3,400, and long-term debt of $7,500. a. What is the value of the shareholders' equity account for this firm?

+3
Answers (1)
  1. 16 February, 12:30
    0
    equity = $19500

    Explanation:

    Given dа ta:

    current assets $3900

    net fixed assets $26,500

    current liabilities $3400

    debt = $7500

    Total liabilities = current liabilities + long term debt

    = 3400 + 7500 = $ 10,900

    Total assets = current assets + net fixed assets

    = 3900 + 26,500 = $30,400

    We know

    total assets = total liabilities + equity

    30400 = 10900 + equity

    equity = $19500
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Wims, Inc., has current assets of $3,900, net fixed assets of $26,500, current liabilities of $3,400, and long-term debt of $7,500. a. What ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers