Jimmys Sendwich Company 128500 During the current year total

Jimmy\'s Sendwich Company $128.500. During the current year, total revenues were $107,000 while total expenses were $96,500 current year, total assets are $207000, the change in total reported stockholders\' equiny totaling S On January 1 of the curment year Also, during the current year paid $31,000 in cash dividends. No other changes in equity occurred during the year. IH on stockholders equity during the year was:

Solution

Beginning Stockholders’ Equity + Revenues – Expenses – Dividends = Ending Stockholders’ Equity

$128,500 + $107,000 – $96,500 – $31,000 = Ending Stockholders’ Equity

Ending Stockholders’ Equity = $108,000

Change in Equity = Beginning Stockholders’ Equity – Ending Stockholders’ Equity

Change in Equity = $128,500 – $108,000 = $20,500 Decrease