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QS 1-8 Applying the accounting equation LO A1 1. Use the accounting equation to compute the missing financial statement amoun
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Answer #1
Company 1 Company 2
Assets $46,000 $85,700
Liabilities $17,500 $33,500
Common Stock $23,000 $47,000
Dividends $0 -$2,300
Revenue $15,000 $27,000
Expenses -$9,500 -$19,500
$46,000 $85,700
Note: Both missing figure have balance figure.
Assest = Liabilities + Coomon Stock - Dividends + Revenue - Expenses
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