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Bad White [126]
4 years ago
15

Given the following information, determine the amount of Cash on the balance sheet (assume there are only three assets). Liabili

ties equal $3,050; Stockholders' equity equals $25,000; Supplies equal $1,500; and Land equals $22,500. $4,050 None of these choices are correct. $7,050 $2,050
Business
1 answer:
MatroZZZ [7]4 years ago
7 0

Answer:

Cash will be 5,550 dolllars

which implies none of the given posibles answers is correct.

Explanation:

we use the accounting equation:

Assets = Liabilities + Equity

Assets:

supplies 1,500

land      22,500

Liabilties 3,050

Equity 25,000

So we plug this into the equation:

Assets = Liabilities + Equity

(22,500 + cash)  = 3,050 + 25,000

cash = 3,050 + 25,000 - 22,500 = 5,550

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The answer is true.

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<h3>What is an organizational structure?</h3>

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<h3>The dimensions of an organizational structure.</h3>

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