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Ost9095 Mar 10, 2007, 04:15 PM Expanded Accounting Equation
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
TINAT67 Jun 9, 2007, 09:00 PM A = 8500
B = 9000
C = 57,000
D = -4000
glendon729 Sep 5, 2007, 06:59 PM The answer is:
a) 15,500
b) 9,000
c) <7,000>
d) 4,000
glendon729 Sep 5, 2007, 07:25 PM Expanded Accounting Equation
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
Oops, sory I copied the wrong exercise. The answer is:
a) 8,500
b) 9,000
c) 57,000
d) <4,000> (negative 4,000)
charles8765 May 30, 2008, 10:42 AM Expanded Accounting Equation
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
Can you show me how to perform this calculation?
morgaine300 May 31, 2008, 08:01 PM Tina and glendon, we are not here to do other people's homework for them. No one learns anything that way and it breaks our rules. You two and original poster, please see our guidelines for posting homework problems here:
http://www.askmehelpdesk.com/finance-accounting/announcement-font-color-ff0000-u-b-read-first-expectations-homework-help-board-b-u-font.html
charles, the accounting equation:
Assets = Liabilities + Equity
By saying the "expanded equation," all they are doing is splitting the equity into capital stock and retained earnings. i.e.:
Assets = Liabilities + Stock + Retained Earnings.
The three numbers in the columns are the first three, leaving retained earnings as a blank to be solved. Hence, it's just a matter of taking the left side (assets) and finding out the missing number to make the right side equal it.
20,000 = 8000 + 3500 + ??
So the missing number is 8500.
Etc.
Except C doesn't make a whole heck of a lot of sense.
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