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3 years ago

Current Attempt in Progress

Business

1 answer:

Inessa05 [86]3 years ago

3 0

Answer:

Assets = Liabilities + Stockholders' Equity = $68,600

Explanation:

Note: See the attached excel file for the tabular analysis of the effect of each transaction on the accounting equation.

From the attached excel file, we have:

Assetes = Total assets balance = = $18,800 + $17,900 + 31,900 = $68,600

Liabilities = Total liabilities balance = $1,600

Stockholders' Equity = Total Common Stock balance + Total Net Income balance = $42,500 + $25,500 = $67,000

Liabilities + Stockholders' Equity = $1,600 + $67,000 = $68,600

Therefore, we have:

Assets = Liabilities + Stockholders' Equity = $68,600

Download xlsx

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