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Accounting Equation Sid Summitt is the stockholder and operator of Way to Go LLC, a motivational consulting business. At the end of its accounting period,
Accounting Equation Sid Summitt is the stockholder and operator of Way to Go LLC, a motivational consulting business. At the end of its accounting period, December 31, 2012, Way to Go has assets of $746,000 and liabilities of $179,000. Using the accounting equation, determine the following amounts: a. Stockholders' equity as of December 31, 2012. 567,000 b. Stockholders' equity as of December 31, 2013, assuming that assets decreased by $142,000 and liabilities decreased by $43,000 during 2013
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