Question: CLASS EXERCISE (Chapter 1) E1-5 Compute the missing amount in the accounting equation for each business. Assets Liabilities Owner's Equity Economy Cuts $ $120,000 $40,000

CLASS EXERCISE (Chapter 1) E1-5 Compute the missing amount in the accounting equation for each business. Assets Liabilities Owner's Equity Economy Cuts $ $120,000 $40,000 Marpole Dry Cleaners 100,000 50,000 Dauphin Gift and Cards 145,000 115,000 Ans: Economy-> Marpole- Dauphin-- S1-3 For each of the users of accounting information, indicate whether they are an external decision maker (E) or an internal decision maker (1). a. Marketing manager b. Canada Revenue Agency c. Investor d. Controller e. Supplier

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