Components of the accounting equation
Required
The following three requirements are independent of each other.
a. Pizza Factory has assets of $8,500 and net assets of $6,200. What is the amount; of liabilities? What is the amount of claims?
b. City Sandwiches has liabilities of $ 1,200 and equity of $4,400. What is the amount of assets? What is the amount of net assets?
c. Pickwick Inn has assets of $98,300 and liabilities of $44,700. What is the amount of equity? What is the amount of residual interest?
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