For each of the following independent cases, fill in the blank with the appropriate dollar amount. Assets = Liabilities + Owners' Equity Case 1 $147,700 = $65,600 + $ ? Case 2 $508,200 = $ ? + $194,200 Case 3 $ ? = $170,400 + $199,200
For each of the following independent cases, fill in the blank with the appropriate dollar amount. Assets = Liabilities + Owners' Equity Case 1 $147,700 = $65,600 + $ ? Case 2 $508,200 = $ ? + $194,200 Case 3 $ ? = $170,400 + $199,200
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter1: Asset, Liability, Owner’s Equity, Revenue, And Expense Accounts
Section: Chapter Questions
Problem 1E
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For each of the following independent cases, fill in the blank with the appropriate dollar amount.
|
Assets |
= |
Liabilities |
+ |
Owners' Equity |
||||||
Case 1 |
$147,700 |
|
|
= |
$65,600 |
|
|
+ |
$ ? |
|
|
Case 2 |
$508,200 |
|
|
= |
$ ? |
|
|
+ |
$194,200 |
|
|
Case 3 |
$ ? |
|
|
= |
$170,400 |
|
|
+ |
$199,200 |
|
|
Expert Solution
Step 1 Introduction
As per accounting equation:
Assets = Liabilities + Owner's equity
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