Homework Answers
In my Opinion Option C is correct, because there is Two sides in Balance sheet, 1. Equity & Liabilities and 2. Assets and the Totals of both sides must be equal. following is short extract of Balance sheet for the reference.
| Equity & Liabilities | Assets | ||
| Shareholders Funds | Amount in $ | Fixed Assets | Amount in $ |
| Equity Share Capital | 1,300,000 | Property, Plant & Equipment | 1,500,000 |
| Liabilities | Current Assest | 500,000 | |
| Long Term Liabities | 500,000 | ||
| Current Liabilities | 200,000 | ||
| Total | 2,000,000 | 2,000,000 |
Hence Option A, B & D are incorrect.
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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...
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Please help!!
alculatO Owner's withdrawals a. increase expenses b. decrease owner's equity c. decrease expenses Od. increase cash Google Translate C Log in to Clever CalcuiatO The accounting equation may be expressed as Oa. Assets + Liabilities = Owner's Equity Ob. Assets = Revenues-Liabilities Oc. Assets-Liabilities = Owner's Equity Od. Assets = Equities-Liabilities The objectivity concept requires that a. the Financial Accounting Standards Board be fair and unbiased in its deliberations over new accounting standards b. accounting principles meet the...
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Please help!!
alculatO Owner's withdrawals a. increase expenses b. decrease owner's equity c. decrease expenses Od. increase cash Google Translate C Log in to Clever CalcuiatO The accounting equation may be expressed as Oa. Assets + Liabilities = Owner's Equity Ob. Assets = Revenues-Liabilities Oc. Assets-Liabilities = Owner's Equity Od. Assets = Equities-Liabilities The objectivity concept requires that a. the Financial Accounting Standards Board be fair and unbiased in its deliberations over new accounting standards b. accounting principles meet the...
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