Compute missing amounts in a balance sheet
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Accounts payable $6,000 Equipment $7,000
Accounts receivable 1,000 Land 7,000
Building ? Unearned revenue 2,000
Cash 3,000 Total stockholder's equity ?
If total stockholder's equity was $19,000, what would be the balance of the Building Account?
If the balance of the Building account was $17,000, what would be the total of liabilities and stockholders' equity?
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Solution Summary
The expert computes missing amounts in a balance sheet.
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The way to answer this question is by using the Accounting Equation:
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