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Lynn Shackelford is the stockholder and operator of Way to Go LLC, a motivational consulting business. At the end of its accounting period, December 31,
Lynn Shackelford is the stockholder and operator of Way to Go LLC, a motivational consulting business. At the end of its accounting period, December 31, 20Y2, Way to Go has assets of $657,000 and liabilities of $158,000. Using the accounting equation, determine the following amounts:
a. Stockholders' equity as of December 31, 20Y2. 499,000
b. Stockholders' equity as of December 31, 20Y3, assuming that assets increased by $125,000 and liabilities decreased by $38,000 during 20Y3. _______
* I got 586,000 and it's saying it's incorrect please help.
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