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    snowball123's Avatar
    snowball123 Posts: 1, Reputation: 1
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    #1

    Sep 14, 2009, 05:00 PM
    expanded accounting equation
    For each of the following four cases what is the missing amount?

    Assets = Liabilities + Capital Stock - Retained Earnings

    Case A $23,000 $11,000 missing $ 4,500
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Sep 15, 2009, 07:31 PM

    This is not enough information. I don't know where those numbers belong.

    Essentially you just insert whatever numbers they give you and then solve for the missing number.

    However, it's
    Assets = Liabilities + Capital Stock + Retained Earnings

    The only way retained earnings would be a minus is if they had a deficit. And I doubt they would give you that at this level, and also a deficit would be a negative number -- so you'd be inserting a negative number into retained earnings and it would work itself out automatically.
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