16. Using the expanded accounting equation, solve for the missing amount. Assets $72,540 Liabilities 2,560 Common...
16. Using the expanded accounting equation, solve for the missing amount. Assets $72,540 Liabilities 2,560 Common Stock ? Dividends 16,750 Revenues 59,320 Expenses 29,350
Homework Answers
Answer;
| Assets=Liabilities+Common Stock- Dividends+Revenues- Expenses |
| $72,540=$2,560+Common Stock-$16,750+($59,320-$29,350) |
| $72,540=$2,560+Common Stock-$16,750+($29,970) |
| $72,540=$2,560+Common Stock+13,220 |
| $72,540-2,560-13,220=Common Stock |
| Common Stock=$56,760 |
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