edgecomber
Nov 23, 2009, 11:56 AM
Hi how are you doing I have been given a assignment to take the folloing informaiton below and give the answer for the following areas missing the number using the expanding accounting equation. Below also is what I had came up with as for a answer could you please let me know if I am on track or if maybe I might have done something wrong. Thank You
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 $23,000 $11,000 A $4,500
Case B $17,500 B $4,500 $3,600
Case C C $14,000 $11,000 $27,000
Case D $45,000 $29,000 $18,000 D
I came up with the following answers
Case A $7,500
Case B $4,900
Case C $52,000
Case D -$2,000
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 $23,000 $11,000 A $4,500
Case B $17,500 B $4,500 $3,600
Case C C $14,000 $11,000 $27,000
Case D $45,000 $29,000 $18,000 D
I came up with the following answers
Case A $7,500
Case B $4,900
Case C $52,000
Case D -$2,000