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Compute total assets, total liabilities, total equity

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

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