1 Drag the account types to form the expanded accounting equation. Begin the equity section with Contributed Capital + Retained Earnings. Then, identify whether the item increases, '+', or decreases, '-', equity. Common Stock Cash Dividends : Accounts Receivable Accounts Payable Revenues Expenses : Unearned Revenues Assets Liabilities: 2. Enter the missing value to balance the equation. = 48,000 + 38,000 - 44,000 + 44,000 23,000 9,000 + 2,000 28,000 + 24,000 - 26,000 55,000 = 21,000 + - 3,000 + 48,000 35,000 3 Identify the part of the expanded accounting equation for each account title. Land Common Stock Dividends Advertising Expense Rent Payable Interest Revenue 5 Using the expanded accounting equation, calculate and enter the answers for each question. You will need to use the answers you calculate for beginning and ending equity to answer the rest of the questions. Assets Liabilities Beginning of Year: $28,000 $15,000 End of Year: $61,000 $27,000 1) What is the equity at the beginning of the year? 2) What is the equity at the end of the year? Beginning Equity Ending Equity 3) If the company issues common stock of $6,500 and pay dividends of $40,400, how much is net income (loss)? 4) If net income is $1,500 and dividends are $6,700, how much is common stock? Net Income (Loss) Common Stock 5) If the company issues common stock of $16,600 and net income is $17,100, how much is dividends? 6) If the company issues common stock of $42,900 and pay dividends of $1,000, how much is net income (loss)? Dividends Net Income (Loss)