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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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#### 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