14.Please compute the missing amounts and lay these accounts out in a working trial balance format.

1. Total Assets = ?;Current Assets = $103,600;Plant Assets = $121,200;Total Liabilities = ?;Current Liabilities = $82,200;Long-term Liabilities = ?;Capital Contributions $17,200;Total Revenue = $80,000; Total Expenses = $32,000;Total Equity = ?Hint: Total Assets, Total Liabilities, and Total Equity are the totals of the components provided.Total Liabilities is tricky but you have enough information to calculate it.

6.Please contrast between accrual basis and cash basis accounting.When are each required or optional for SEC and IRS, for individuals and businesses?

7.Please contrast between "fiscal year" and "calendar year".When are each required or optional for SEC and IRS, for individuals and businesses?

8.Please state two accounting "assumptions" and the two accounting "principles", as done in the text and lecture.