Question#$1$

Please answer the following questions:

Complete the table below using Accounting Equation $($Assets$=$ Liabilities $+$ Owner's Equity$)$:

Compute the missing amounts in the accounting equation for each businesses.

$\backslash$table$[[,$ASSETS $=,$LIABILITIES,OWNER'S EQUITY$],[$Economy Cuts,,$$120,000,$$$40,000$