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6 May, 00:39

Suppose Hunt Corporation has Accounts receivables of $65,000, Furniture totaling $205,000, and Cash of $52,000. The business has a $109,000 Note payable and owes a bank $81,000 on account. How much is Hunt's stockholders' equity?

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  1. 6 May, 03:09
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    Stockholders' equity is $132,000

    Explanation:

    Assets

    Accounts receivables = $65,000

    Furniture totaling = $205,000

    Cash = $52,000

    Total Assets = $322,000

    Equity and Liabilities

    Equity

    Stockholders' equity = $132,000

    Liabilities

    Note payable = $109,000

    bank = $81,000

    Total Equity & Liabilities = $322,000

    * Equity=Total Assets-Liabilities=$322,000 - ($109,000+$81,000) = $132,000
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