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Selected balance sheet items are shown for the Microtech Company. Compute the missing amounts for each of the four years. What basic accounting equation did
Selected balance sheet items are shown for the Microtech Company. Compute the missing amounts for each of the four years. What basic accounting equation did you apply in making your calculations? Year 1 Year 2 Year 3 Year 4 Current Assets $113,624 $85,124 Noncurrent assets 198,014 162,011 151,021 $220,111 $524,600 Total assets Current liabilities $56,142 $40,220 Noncurrent liabilities 30,222 170,000 60,100 Paid-in capital 214,155 13,785 $524,600 170,000 1,452 173,295 "Retained earnings (3,644) $288,456 2,350 $220,111 Total liabilites and owners' equity In the space below, please descripe the basic accounting equation you applied in making your calculations Year 1 Noncurent assets Year 1 Noncurrent liabilites Year 2 Current Assets Year 2 Total Assts Year 2 Noncurent liabilities Year 3 Total assets Year 3 Current liabilities Year 3 Total liabiltieis & owners equity Year 4 Current assets Year 4 Current liabilities
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