Can anyone solve this?
Question:
For the following four cases, use the expanded accounting equation to compute the missing quantity.
Assets Liabilities Capital Stock Retained Earnings
Case A: $20,000 $8,000 A $3,500
Case B: 16,000 B $5,000 2,000
Case C: C 11,000 14,000 32,000
Case D: 46,000 30,000 20,000 D
Answer:
The formula is Assets=Liabilities + Equity
In your case: Assets =Liabilities + Capital Stock + Retained Earnings
Just do simple add and subtract
Case A: $8500
Case B: $9000
Case C: $57000
Case D: ( $4000)
i think i just had a brain hemmorage just by looking at that .. =\ goodluck
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