Kettle Creek Dental Corp. reports total assets of 742,000 and total liabilities of 415,500 at 31 December. What is total shareholders’ equity?
Kettle Creek Dental Corp. reports total assets of 742,000 and total liabilities of 415,500 at 31 December. What is total shareholders’ equity?
Answer
326500
Cells - Total shareholders' equity · ±0 Equity is the residual: assets − liabilities = 742,000 − 415,500 = **326,500**. No other information is needed; that is the definition.
Hermanson Vol 1 ch 1; Dauderis & Annand §1.5, §2.1 (equity tree); OpenStax Accounting Vol 1 §3.2 (concept map B1, B2)