On June 1 Acme Inc. has Shareholders' Equity of $69093. In June the firm sold $10999 in additional capital stock for cash. In June the firm obtained an interest free loan of $47949 from one of the stockholders. Revenues for June were $23709. Expenses for June were $13050 In June the company paid out a total of $1344 in dividends to its shareholders. What is the value of Shareholders' Equity on June 30?
Particulars | Amount |
Opening equity | 69,093 |
Add | |
Additional stock | 10,999 |
Revenues | 23,709 |
Less | |
Expenses | 13,050 |
Dividends | 1,344 |
Closing equity | 89,407 |
Equity on June 30 is 89,407
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