March 29, 2017

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Problem: For the following four cases, use the accounting equation to compute the missing quantity.
Note: I was given four cases but apparently I am missing something. For example the first case states:

$20,000 assets, $8,000 liabilities, and $3,500 in Retained Earnings. Find the Captial stock.

I know that assets = liabilities plus owner's equity. So would I subtract $11,500 from $20,000? How would i know how to find the capital stock?

In the other problems I would have to find the assets, libiabilties, or retained earnings.

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