# ACCOUNTING

posted by .

86,500 ASSETS = 50,500 LIABILITIES+OWNERS EQUITY

hOW DO I SOLVE THIS PROBLEM

• ACCOUNTING -

is the sum of your liabilities and ownership equity not your assets?
so
equity = assets - liabilities

## Similar Questions

1. ### Introduction to Accounting

The proprietors of two businesses, L.L. Sams Company and Melinda Garcia Career Services, have sought business loans from you. To decide whether to make the loans, you have requested their balance sheet to view. L.L. Sams Company Balance …

how will the fundemantal accounting equtation (assets=liabilities+owners equity) change if supplies are purchased on account?
3. ### finance and accounting

Account Word Problems like this I seem not to get the concept , please give me an exam as how to figure out this problem. 1. The liabilities of Acosta Corporation equal one-third of the total assets. And stockholders equity is \$160,000. …
4. ### accounting

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, …
5. ### accounting

Did I do any of this right and how do I figure Retain earnings (where does net income and dividends come from?
6. ### Accounting

Please check my answers. Identify each of the following as either assets, liabilities, or owner's equity. 1. Petty cash- Owner's Equity 2. Mortgage payable- Liabilities 3. Furniture- Assets 4. Owner's Capital- Owner's Equity 5. Food …
7. ### Accounting

I have added Below my balance sheet and income statement now the statement of owners equity is the beginning capital 28,2800 plus the net income 21,550 which is 49,750 less withdrawals 5,000 equals 44,750 which does not equal my assets. …
8. ### accounting 205

A proprietor makes a cash withdrawal from the proprietorship. How does this affect the accounting equation?
9. ### Finance

Use the “balance sheet equation” to determine owners’ equity if liabilities are \$5 million and assets are \$10 million. Assets = Liabilities + Owners’ equity
10. ### Introductory Accounting

The question is Burlin company starts the year with \$188,000 in assets and \$37,600 in liabilities. Net income for the year is \$47,000, and no dividends are paid. How much is owners' equity at the end of the year?

More Similar Questions