2. Use the expanded accounting equation to compute the missing financial statement amounts. Assets Liabilities Common Stock Dividends Revenues Expenses +. Company 24 70,000 = 24 23,500 2$ 35,000 2$ 2$ 15,500 1 59,000 2$ 39,000 2$ 25,500 + $ 108,500 2$ 39,500 2$

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Chec
2$
117,500 =
2$
32,500
2$
85,000
2$
115,000
$
35,000
2$
80,000:
+
2. Use the expanded accounting equation to compute the missing financial statement amounts.
Company
Assets
Liabilities
Common Stock
Dividends
Revenues
Expenses
2$
70,000 =
2$
23,500
2$
35,000 -
2$
ㅇ
24
15,500
1
$
108,500 =
$
39,500
2$
59,000
$
39,000
2$
25,500
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Transcribed Image Text:Chec 2$ 117,500 = 2$ 32,500 2$ 85,000 2$ 115,000 $ 35,000 2$ 80,000: + 2. Use the expanded accounting equation to compute the missing financial statement amounts. Company Assets Liabilities Common Stock Dividends Revenues Expenses 2$ 70,000 = 2$ 23,500 2$ 35,000 - 2$ ㅇ 24 15,500 1 $ 108,500 = $ 39,500 2$ 59,000 $ 39,000 2$ 25,500 < Prev 2 of 4 Next > 40°F o search
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An accounting equation refers to a mathematical representation of the transaction. It indicates that total assets are equals to, the total sum of shareholder fund and liability.

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