[stuckinmath]

I need to fill in the blanks for 4 cases.

Total Assets, end of period $40,000
Total Liabilities, end of period $??
Capital Stock, end of period $10,000
Retained Earnings, beginning of period $15,000
Net Income for the period $8,000
Dividens for the period $2,000


Total Assets, end of period $??
Total Liabilities, end of period $ 15,000
Capital Stock, end of period $5,000
Retained Earnings, beginning of period $8,000
Net Income for the period $7,000
Dividens for the period $1,000

Total Assets, end of period $75,000
Total Liabilities, end of period $ 25,000
Capital Stock, end of period $20,000
Retained Earnings, beginning of period $10,000
Net Income for the period $??
Dividens for the period $3,000


Total Assets, end of period $50,000
Total Liabilities, end of period $ 10,000
Capital Stock, end of period $ 15,000
Retained Earnings, beginning of period $20,000
Net Income for the period $9,000
Dividens for the period $??


Thanks so much in advance for your help! I have been working on this for the last couple hours and am totally clueless. I do know that it related to the accounting equation.

[Criado]

Here's the equation you need to use.

Total Assets = Total Liabilities + Capital Stock + (Retained Earnings+Net Income - Dividends)

I'll give you a similar case:

Total Assets, end of period $15,000
Total Liabilities, end of period $?
Capital Stock, end of period $ 5,000
Retained Earnings, beginning of period $4,000
Net Income for the period $3,000
Dividens for the period $2,000

Based on the equation:

Total Assets = Total Liabilities + Capital Stock + (Retained Earnings+Net Income - Dividends)

15,000 = X(unknown) + 5,000 + (4,000 + 3,000 - 2,000)
15,000 = X + 5,000 + (5,000)
15,000 = X + 10,000
15,000 - 10,000 = X
X = 5,000
Total Liabilities, end of period $ 5,000

Use the equation in the cases you gave and please tell us your answer.

[stuckinmath]

Case 1
40,000= x + 10,000 + (15,000+8,000-2,000)
40,000=x + 10,000+(21,000)
40,000=x+31,000
x=9,000

Case 2
x=15,000+5,000+(8,000+7,000-1,000)
x=15,000+5,000+14,000
x=34,000

Case 3
75,000=25,000+20,000+(10,000+ x -3,000)
75,000=45,000+7,000+x
75,000=52,000+x
x=23,000

Case 4
50,000=10,000+15,000+(20,000+9,000-x)
50,000=25,000+(29,000-x)
50,000=54,000-x
x=4,000


Thanks so much for giving me the equation to solve this!! I struggled with this for so long. Did I apply the equation to my cases correctly?

[Criado]

Congratulations! :) They are all correct!

[stuckinmath]

Yay!! :D

Thank you so much!!