2) Compute the amount of the missing element:

AssetsLiabilitiesOwners equity

a) $24,000$19,000X

b) $16,500X$12,300

c) X$2,700$14,000

d) $15,665$9,406X

3) Mr. Allen begins business, investing $4,000 in cash, equipment valued at $12,000, and $1,000 worth of supplies. What is the equity of the firm?

4) If Mr. Allen had included a $6,000 note payable (written liability), in problem 2, what would then have been his Owners equity?