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2) Compute the amount of the missing element: Assets Liabilities Owners equity a) $24,000 $19,000 X b) $16,500 X $12,300 c) X $2,700 $14,000 d)
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?
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?
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Accounting Principles
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
12th edition
1119132223, 978-1-119-0944, 1118875052, 978-1119132226, 978-1118875056
