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    Compute total assets, total liabilities, total equity

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    2-1
    Total Assets - Using the following information, compute total assets
    Equipment: $10,000
    Accounts payable: $900
    Capital Stock: $1,500
    Cash: $800
    Loan payable: $9,000
    Wages payable: $500
    Accounts receivable: $1,000
    Retained earnings: $3,400
    Inventory: $3,500

    2-2
    Total Liabilities - Refer to data in 2-1.
    Compute total liabilities

    2-3 Total Owners' Equity
    Refer to data in 2-1. Compute total owners' equity

    2-4
    The Accounting Equation
    For the following cases, use the accounting equation to compute the missing quantity.
    Assets Liabilities Owners' Equity
    Case A $10,000 $ 4,000 A
    Case B $ 8,000 B $3,500
    Case C C 5,500 7,000
    Case D 13,000 15,000 D

    2-5
    Balance Sheet
    Using the data in 2-1, prepare a balance sheet

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    https://brainmass.com/business/accounting-for-liabilities/compute-total-assets-total-liabilities-total-equity-338938

    Solution Preview

    2-1
    Total Assets - Using the following information, compute total assets
    Equipment: $10,000
    Accounts payable: $900
    Capital Stock: $1,500
    Cash: $800
    Loan payable: $9,000
    Wages payable: $500
    Accounts receivable: $1,000
    Retained earnings: $3,400
    Inventory: $3,500

    Total Assets
    Equipments - 10000
    Cash- 800
    Accounts receivable: $1,000
    Inventory: $3,500
    Total= $15300

    2-2
    Total Liabilities - Refer to data in 2-1.
    Compute total ...

    Solution Summary

    Response helps in computing total assets, total liabilities, total equity; use accounting equation

    $2.19

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