Question

ld8single-true&c ACCT 3311 Intermediate Acct Spring 2019 Vanecia Henderson 1.3 Describe the accounting equation and define assets, liabilitie Cose 41 of 10 (0 complete) 0 correct T1-3 (similar to) E Question Hep 16. Using the esxpanded accourting equation, sove for the missing amount 2,540 2130 Common Stock 11210 53,450 29 350 Begin by selecting the formula for the expanded accounting t equation Then enter the amounts to solve foe the missing amount Choose trom any list or enter any number in the input elds and then click Check Answer 8 0 6 E R T Y

Answer 1

solution:

Common stock = Assets - Liabilities - Retained earnings

= Assets - Liabilities - (Revenue - Expenses - Dividends)

= Assets + Dividends - Liabilities + Expenses - Revenue

= $72,540 + $11,210 - $2,130 + $29,350 - $53,450 = $57,520