USING THE ACCOUNTING EQUATION Listed below are three independent scenarios. Scenario Assets Liabilities Equity 1 (a) $39,000

Question:

USING THE ACCOUNTING EQUATION Listed below are three independent scenarios.

Scenario Assets Liabilities Equity 1

(a) $39,000 $40,000 2 $125,000

(b) 75,000 3 $ 23,000 $12,000 (c)

Required:

Use the fundamental accounting equation to find the missing amounts.

Cornerstone Exercise

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Cornerstones Of Financial Accounting Current Trends Update

ISBN: 9781111527952

1st Edition

Authors: Jay Rich , Jeff Jones, Maryanne Mowen , Don Hansen

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