1. Determine the missing amounts for eachofthe following questions:

Assets = Liabilities + Owners' Equity

1a. 25,000 = 13,000 + X

1b. 98,000 = X + 12,000

1c. X = 38,756 + 54,389

2. Would each of the following transactions increase, decrease, or have no effect on Assets, Liabilities, and Owners' Equity?

2a. An Entrepreneur invests $20,000 cash into her business.

2b. The business then buys a building worth $65,000 and takes a loan from the bank for the entire amount.

2c. The business then sells $65,000 worth of merchandise to its customers.

2d. At the end of the year, the business then pays a $23,000 dividend to the entrepreneur.