Sing the accounting equation, compute the missing elements. Assets = Liabilities + Owner's Equity $fill in the
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Question:
Sing the accounting equation, compute the missing elements.
Assets | = | Liabilities | + | Owner's Equity |
---|---|---|---|---|
$fill in the blank 1 | = | $29,560 | + | $16,800 |
$31,190 | = | $17,120 | + | $fill in the blank 2 |
$29,530 | = | $fill in the blank 3 | + | $18,850 |
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There are three different ways the accounting equation may be expressed:
- Assets = Liabilities + Owner's Equity
- Assets – Liabilities = Owner's Equity
- Assets – Owner's Equity = Liabilities
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