Expanded Accounting Equation For the following four cases, use the expanded acco

Question

Expanded Accounting Equation
For the following four cases, use the expanded accounting equationto compute the missing
quantity.


                      Assets                       Liabilities          CapitalStock                Retained Earnings
CaseA           $23,000                       $11,000                          A                           $ 4,500
CaseB             17,500                           B       $ 4,500       3,600
CaseC                C                              14,000                      11,000    27,000
CaseD             45,000                         29,000                      18,000    D

Explanation / Answer

Case A Assets = Liabilities + Owners equity 23,000 = 11,000 + Cap.stock + 4,500 23,000-11,000-4,500 = Capital stock Cap.stock = 7,500 (A) Case B Assets = Liabilities + Owners equity 17,500 = Liabilities + 4,500 + 3,600 Liabilities = 17,500-4,500-3,600              =9,400(B) Case C Assets = 14,000 + 11,000 +27,000            =52,000(C) Case D 45,000 = 29,000 + 18,000 + D D = - 2,000

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