Purchase Solution

Determine the owners' equity

Not what you're looking for?

Ask Custom Question

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?

Purchase this Solution
Solution Summary

This solution shows how to calculate equity.

Solution Preview

Assets=liabilities+owners'equity

$35,000 + $10,200 + $19500 = $16,350 + ($30,000 + $18,350 ...

Purchase this Solution
Free BrainMass Quizzes
Production and cost theory

Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.

Lean your Process

This quiz will help you understand the basic concepts of Lean.

Situational Leadership

This quiz will help you better understand Situational Leadership and its theories.

Marketing Management Philosophies Quiz

A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.

Organizational Behavior (OB)

The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.

View More Free Quizzes
Related BrainMass Solutions

  • Roloflex Company

    Equity = 50,000 Then, we will determine the Total Owners' Equity for December 31 as follows: - Assets = Liabilities + Total Owners' Equity 112,000 = 28,800 + Total Owners' Equity Total Owners' Equity = 83,200 1.

  • Ratio of liablilities to stockholders equity

    Determine the total liabilities as of Feb 2nd 2003 and Feb 3,2002 b. Determine the ratio of liablilities to stockholders equity for 2003 and 2002.

  • Ratio of liabilites to stockholders equity

    Determine the ratio of liablilites to stockholders equity for 2003 and 2002.

  • Computing Elements of Owners' Equity

    206379 Computing Elements of Owners' Equity Computing Elements of Owners' Equity From the information provided, determine: 1. The amount of retained earnings at December 31. 2. The amount of revenues for the period.

  • Schubert Products Inc.

    Total Liabilities and Owners' equity 99,000 This solution is comprised of a detailed explanation to prepare a balance sheet for Schubert Products Inc. and determine the amount of retained earnings.

  • Accounting question - Ratio Analysis

    Determine the change in market price of the capital stock from the end of 20X1 to the end of 20X3. 2. What are the total assets at the end of each year? 3. What is the return on owners' equity for 20X3?

  • Prepare statement of cash flows (indirect method) - Millco

    Then, we will determine the increase or decrease for assets and liabilities and owner's equity in the balance sheet as shown above.

  • Statement of Business Income

    (a.k.a., owners equity).

  • Income Statement

    (a.k.a., owners equity).

  • Accounting Equation

    Exercise 2-4 Computing Elements of Owners' Equity From the information provided, determine: 1. The amount of retained earnings at December 31. 2. The amount of revenues for the period.

View More Related Solutions