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A firm has common stock of $8,600; paid-in capital surplus of $11,700; total liabilities of $15,900;...

A firm has common stock of $8,600; paid-in capital surplus of $11,700; total liabilities of $15,900; current assets of $21,100; and fixed assets of $11,700. What is the amount of shareholders' equity?

A.

$33,200
B.

$20,300
C.

$16,900
D.

$12,300
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Homework Answers

Answer #1

Information provided:

Common stock= $8,600

Paid in capital surplus= $11,700

Total liabilities= $15,900

Current assets= $21,100

Fixed assets= $11,700

Shareholder’s equity= Current assets + fixed assets – total liabilities

                                 = $21,100 + $11,700 - $15,900

= $16,900.

Hence, the answer is option c.

In case of any query, kindly comment on the solution.

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