Assets = Liabilities + Owner's Equity
Let, Assets = 'X' therefore, Owner's Equity = 1/2 * X Liability = 120000
Asset = Liability + Equity X = 120000 + (1/2 * X) X - (X/2) = 120000 X/2 = 120000 X = 2*120000 X = $240000
Asset = $240000
Equity = 1/2 * 240000
Equity =$ 120000
3. Rambo Company's owner's equity equals % of the company's total assets. The company's liabilities are...
Barrett company owners equity equals one-fourth of the company's total assets. the company's total liabilities are $309,000. what is the amount of the company's owner's equity
1. Presented below is the basic accounting equation. Determine the missing amounts. Assets Liabilities + Owner's Equity (a) $90,000 $50,000 (b) ? $44,000 $70,000 (c) $94,000 $53,000 1. Presented below is the basic accounting equation. Determine the missing amounts. Assets Liabilities + Owner's Equity (a) $90,000 $50,000 ? (b) ? $44,000 $70,000 (e) $94,000 ? $53,000 2. Given the accounting equation, answer each of the following questions. (a) The liabilities of Weber Company are $120,000 and the owner's equity is...
On the balance sheet, owner's equity is Oa. equal to the total of assets and liabilities Ob. subtracted from liabilities and the net amount is equal to assets Oc. added to liabilities and the two are equal to assets Od. added to assets and the two are equal to liabilities
37) Owner's Equity is best depicted by the following: a. Assets = Liabilities. b. Liabilities + Assets. C. Residual equity + Assets. d. Assets - Liabilities. 38) If Total Liabilities increased by $15,000 and Owner's Equity increased by $5,0 Total Assets must change by what amount and direction during that same p a. $20,000 decrease b. $20,000 increase C. $25,000 increase d. $30,000 increase
Beginning of the year: Total Assets. $129,000 Total liabilities (a) Total Owner's Equity $85,000 End of year: Total Assets 180,000 Total Liabilities 50,000 Total Owner's equity 130,000 Changes during year in owner's equity: Additional Investments 25,000 Drawings (b) Total Revenues. 100,000 Total Expenses 65,000 Please solve for a&b and show the calculations.
At the beginning of the year, Canon Company had total assets of $870,000 and total liabilities of $500,000. Answer the following questions. (a) If total assets increased $150,000 during the year and total liabilities decreased $80,000, what is the amount of stockholders' equity at the end of the year? Stockholders' equity (b) During the year, total liabilities increased $100,000 and stockholders' equity decreased $66,000. What is the amount of total assets at the end of the year? Total assets (C)...
8. Salary expense a) Owner's equity b) Liabilities c) Assets 9. Rent payable a) Owner's equity b) Liabilities c) Assets 10. Rent expense a)Owner's equity b) Liabilities Assets 11. Consulting revenue Owner's equity a) b) Liabilities c) Assets 12. Service revenue a) Owner's equity b) Liabilities c) Assets 13. Owner's withdrawals a) Owner's equity b) Liabilities c) Assets 14. Owner's capital a) Owner's equity b) Liabilities c) Assets 3. Signify the item that most accurately describes an asset. a) An...
The accounting equation can be stated as: O A. Liabilities = Assets + Owner's Equity O B. Owner's Equity = Assets + Liabilities O C. Assets - Liabilities = Owner's Equity OD. Assets = Liabilities - Owner's Equity
2. If total assets decreased $600,000 and owner's equity increased $1,950,000 during the year, what is the amount of total liabilities at the end of the year?
2. If total assets decreased $600,000 and owner's equity increased $1,950,000 during the year, what is the amount of total liabilities at the end of the year?