Ask Experts Questions for FREE Help!
  Advanced
Register  |  Log in  
   Ask    
 Answer  
  Help  

Ask QuestionsprogressAnswer QuestionsprogressBuild ReputationprogressBecome an Expert
 
Free Answers in 3 Easy Steps

Register Now		 3 Steps

At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to:
  • Get free answers from experts in any of our 300+ topics.
  • Accept money for answers that you provide.
  • Communicate privately with other members (PM).
  • See fewer ads.

Home > Business & Careers > Accounting   »   Expanded Accounting Equation

Answer this Question Ask about Accounting
 
Thread Tools Display Modes
Question
 
 
#1  
Old Aug 9, 2007, 12:35 PM
skyelur
New Member
skyelur is offline 		 
Join Date: Aug 2007
Posts: 7
skyelur See this member's comment history on his/her Profile page.
Expanded Accounting Equation
For the following four cases, use the expanded accounting equation to compute the missing quantity.

While I know that the expanded accounting equation is Assets = Liabilities + Owners Equity ... I am unsure how to compute the missing data. How come some of the numbers have $ signs and others do not?



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)

Reply With Quote
 
     

Answers
 
 
Old Aug 9, 2007, 01:00 PM   #2  
Finance & Accounting Expert
CaptainForest is offline
 
CaptainForest's Avatar
 
Join Date: Nov 2005
Location: Canada
Posts: 3,672
CaptainForest See this member's comment history on his/her Profile page.CaptainForest See this member's comment history on his/her Profile page.CaptainForest See this member's comment history on his/her Profile page.CaptainForest See this member's comment history on his/her Profile page.
Assets = Liabilities + Capital Stock + Retained Earnings

Based on the above information, I am sure it can lead you in the right direction to solve this question.
  Reply With Quote
 
     
 
 
Old Aug 9, 2007, 02:02 PM   #3  
New Member
skyelur is offline
 
Join Date: Aug 2007
Posts: 7
skyelur See this member's comment history on his/her Profile page.
If that is the formula, am I correct in saying ...

(a) = 8500

(b) = 9000

(c) = 57000

(d) = -4000

I appreciate how quickly you responded. Thank you :-)
  Reply With Quote
 
     
 
 
Old Aug 9, 2007, 07:29 PM   #4  
Finance & Accounting Expert
CaptainForest is offline
 
CaptainForest's Avatar
 
Join Date: Nov 2005
Location: Canada
Posts: 3,672
CaptainForest See this member's comment history on his/her Profile page.CaptainForest See this member's comment history on his/her Profile page.CaptainForest See this member's comment history on his/her Profile page.CaptainForest See this member's comment history on his/her Profile page.
Yes, you are correct in saying what you said.
  Reply With Quote
 
     
Answer this Question Ask about Accounting

« Previous Thread | Next Thread »

Thread Tools
Display Modes
Linear Mode Linear Mode

 
Similar Sponsors

Similar Threads
Question Asker Forum Answers Last Post
Expanded Accounting Equation Ost9095 Finance & Accounting 5 May 31, 2008 07:01 PM
Accounting equation Berry89 Finance & Accounting 4 Jun 11, 2007 07:14 PM
Expanded Accounting Equation donnac922 Finance & Accounting 4 Apr 14, 2007 12:27 PM
expanded accounting equation LittleMiss1962 Finance & Accounting 1 Apr 1, 2007 04:21 PM
accounting equation shelly050277 Accounting 1 Jan 14, 2007 02:04 PM




Copyright ©2003 - 2007, Ask Me Help Desk.
All times are GMT -8. The time now is 04:42 AM.