Question

Determine the missing amount from each of the separate situations given below. Assets Liabilities Equity 161,000 + 33,000 30,

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Answer #1

Total assets=Total liabilities+Total equity

Assets = Liabilities + Equity
(161,000+33000)=$194,000 = 161,000 + 33,000
130,000 = 30,000 + (130,000-30,000=$100,000
215,000 = (215,000-62000)=$153,000 + 62,000
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