Question: Applying the Accounting Equation to Determine Missing Data For each of the four separate situations 1 through 4 below, compute the unknown amounts referenced by
Applying the Accounting Equation to Determine Missing Data For each of the four separate situations 1 through 4 below, compute the unknown amounts referenced by the letters a through d shown.
| 1 | 2 | 3 | 4 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Beginning | ||||||||||
| Assets | $70,000 | $30,000 | $70,000 | d. | Answer Incorrect Mark 0.00 out of 1.00 | |||||
| Liabilities | 46,500 | 12,500 | 47,500 | 22,500 | ||||||
| Ending | ||||||||||
| Assets | 75,000 | 65,000 | 85,000 | 100,000 | ||||||
| Liabilities | 43,250 | b. | Answer Incorrect Mark 0.00 out of 1.00 | 37,500 | 47,500 | |||||
| During Year | ||||||||||
| Common Stock Issued | 5,000 | 11,250 | c. | Answer Incorrect Mark 0.00 out of 1.00 | 8,750 | |||||
| Revenues | a. | Answer Incorrect Mark 0.00 out of 1.00 | 70,000 | 45,000 | 60,000 | |||||
| Expenses | 21,250 | 52,500 | 27,500 | 42,500 | ||||||
| Cash Dividends Paid | 12,500 | 3,750 | 2,500 | 16,250 | ||||||
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