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Accounting Equation Lynn Shackelford is the stockholder and operator of You're A Star LLC, a motivational consulting business. At the end of its accounting
Accounting Equation Lynn Shackelford is the stockholder and operator of You're A Star LLC, a motivational consulting business. At the end of its accounting period, December 31, 2017, You're A Star has assets of $899,000 and liabilities of $216,000. Using the accounting equation, determine the following amounts: a. Stockholders' equity as of December 31, 2017. b. Stockholders' equity as of December 31, 2018, assuming that assets decreased by $171,000 and liabilities decreased by $52,000 during 2018.
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