Business
Business, 18.01.2021 14:00, amoauya

Sid Summitt is the stockholder and operator of Our Idol LLC, a motivational consulting business. At the end of its accounting period, December 31, 2017, Our Idol has assets of $502,000 and liabilities of $120,000. 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 $117,000 and liabilities decreased by $36,000 during 2018.
$

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Sid Summitt is the stockholder and operator of Our Idol LLC, a motivational consulting business. At...

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