The Accounting Equation 1. For each of the following independent cases, answer what should be in...
The Accounting Equation
1. For each of the following independent cases, answer what should be in the blank with the appropriate dollar amount.
Assets = Liabilities + Owners’ Equity
Case 1 $120 $ 73 + a.__________
Case 2 $500 b. _____ + $277
Case 3 c._____ $82 + $313
Case 4 $412 $303 + d.__________
Case 5 e. _____ $234 + $221
Homework Answers
Solution:
a = 47
b = 223
c= 395
d = 109
e = 455
Working:
|
Assets |
= |
Liabilities |
+ |
Equity |
|
|
Case-1 |
120 |
= |
73 |
+ |
120-73 |
|
Case-2 |
500 |
= |
500-277 |
+ |
277 |
|
Case-3 |
82+313 |
= |
82 |
+ |
313 |
|
Case-4 |
412 |
= |
303 |
+ |
412-303 |
|
Case-5 |
234+221 |
= |
234 |
+ |
221 |
|
Case-5 |
455 |
= |
234 |
+ |
221 |
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