Question
some of the transactions that red wine cellers co. had during the fiscal year 2020 are the following: 1) dividend for the year were of
some of the transactions that red wine cellers co. had during the fiscal year 2020 are the following:
1) dividend for the year were of 100000 2) sales revenue was 750000 3) expenses amounted to 500000 4) shares issued and sold for 200000. In addition, we also know that the assets of the company have increased by 900000 during the year since the company bought new buildings and equipment.
1) how much was the change in liabilities
The owners equity of the business was 500000 at the beginning of the year, and the liabilities at the end of the year are 600000
2) discuss how the solvency of the company has changed during the year. show all calculations with any formulae uses and also discuss
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