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Using the accounting equation, calculate the missing numbers on the Balance Sheet referenced by letters Assets year 1 year2 cash $ 12,250 |$ 12,863 accounts
Using the accounting equation, calculate the missing numbers on the Balance Sheet referenced by letters
Assets | year 1 | year2 |
cash | $ 12,250 | |$ 12,863 |
accounts receivable | $ 28900 | A |
prepaid expenses | $ 13450 | $ 14,123 |
total assets | $ 54600 | B |
liabilities | ||
accounts payable | C | $ 1,2600 |
salaries & wages payable | $ 2,800 | D |
total liabilities | $ 14,800 | 15540 |
shareholders equity | ||
common shares | $6,000 | $ 6,300 |
retained earnings | E | $ 60,770 |
total shareholders equity | $ 39800 | $ 67,070 |
total liabilities & shareholders equity | F | $82,610 , |
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