Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I want to confirm if the yellow fonts are correct. if not provide a reasoning on why it is incorrect. please show work to confirm

image text in transcribedI want to confirm if the yellow fonts are correct. if not provide a reasoning on why it is incorrect.
please show work to confirm the correct answer
QS 1-8 Applying the accounting equation LO A1 1. Use the accounting equation to compute the missing financial statement amounts. Company Assets Liabilities Equity 80,000 37,500 $ 42,500 + 102,500 27,500 $ 75,000 25,000 95,000 3 70,000 2. Use the expanded accounting equation to compute the missing financial statement amounts Common Stock Expenses Dividends Revenues Liabilities + Company Assets 18,506 10,500 C 14,500 25,000 50,000 $ 1 + $ 29,000 $ 20,500 $ 49,000 (500) 34,500 + 89,500 2 + +

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Human Resource Function Audit

Authors: Peter Reilly, Marie Strebler, Polly Kettley

1st Edition

0955970776, 978-0955970771

More Books

Students also viewed these Accounting questions

Question

What are the need and importance of training ?

Answered: 1 week ago

Question

What is job rotation ?

Answered: 1 week ago

Question

What is the role of the Joint Commission in health care?

Answered: 1 week ago