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    skyelur's Avatar
    skyelur Posts: 6, Reputation: 1
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    #1

    Aug 9, 2007, 01:35 PM
    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?

    :confused:

    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)
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Aug 9, 2007, 02:00 PM
    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.
    skyelur's Avatar
    skyelur Posts: 6, Reputation: 1
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    #3

    Aug 9, 2007, 03:02 PM
    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 :-)
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #4

    Aug 9, 2007, 08:29 PM
    Yes, you are correct in saying what you said.
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