Question: Hi can I please have help with question b please? Thank you. Accounting Equation Jan Petri is the stockholder and operator of Our Idol LLC,
Accounting Equation Jan Petri is the stockholder and operator of Our Idol LLC, a motivational consulting business. At the end of its accounting period, December 31, 2012, Our Idol has assets of $616,000 and liabilities of $148,000. Using the accounting equation, determine the following amounts: a. Stockholders' equity as of December 31, 2012. 468,000 b. Stockholders' equity as of December 31, 2013, assuming that assets decreased by $117,000 and liabilities decreased by $36,000 during 2073. 315,000 X Feedback Check My Work (a) By rewriting the accounting equation, Assets - Liabilities - Stockholders' Equity, you can calculate the 20Y2 Stockholders' equity (b) Use your calculated amount of Stockholders equity as of December 31, 2072. Next, add (or subtract) the change in amounts in 2013 to (from) the 2072 Stockholders' equity to obtain the 20Y3 Stockholders' Equity amount
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