Q1) Expanded Accounting Equation.
For the following four cases, use the expanded accounting equation to compute the missing quantity.
| |
Assets |
Liabilities |
Capital Stock |
Retained Earnings |
| Case A |
$20,000 |
$8,000 |
A |
$3,500 |
| Case B |
16,000 |
B |
$5,000 |
2,000 |
| Case C |
C |
11,000 |
14,000 |
32,000 |
| Case D |
46,000 |
30,000 |
20,000 |
D |