K (4) If the assets of a business are $340,000 and the liabilities are $180,000, how much is the equity? (2) If the equity in a business is $120,000 and the liabilities are $140,000, how much are the assets? (3) A company reported monthly revenues of $335,000 and monthly expenses of $65,000. What is the result of operations for the month? (4) If the beginning balance of retained eamings is $140,000, revenue is $110,000, expenses total $45,000, and the company declares and pays a $35,000 dividend, what is the ending balance of retained earnings? (1) If the assets of a business are $340,000 and the liabilities are $180,000, how much is the equity? In order to calculate the equity, we must use the accounting equation. Begin by determining the accounting equation, then solve for the equity. Assets $ 340,000 Liabilities 180,000 $ Equity 160,000 (2) If the equity in a business is $120,000 and the liabilities are $140,000, how much are the assets? The accounting equation can be rearranged to determine the amount of assets. If the equity is $120,000 and liabilities are $140,000, calculate the amount of assets. Equity $ 120,000 Liabilities 140,000 Assets 260,000