Ramsey corporation reported the following accounts and balances in its financial statements: cash $35,000?
inventory $10,200,equipment $19,500,accounts payable $16,350,contributed capital $30,000, retained earnings $18,350. arrange the accounts and balances into the accounting equation using the following equation and then answer the following questions; Assets=liabilities=owners'equity. what is the total amount of assets? what is the total amount of liabilities? What is the total amount of owners' equity?© BrainMass Inc. brainmass.com October 10, 2019, 3:13 am ad1c9bdddf
$35,000 + $10,200 + $19500 = $16,350 + ($30,000 + $18,350 ...
This solution shows how to calculate equity.