So first you have to do 15*4. We get the 4 from the admission fees and the 15 from the number of dances they attend. From this answer we can see the total of money they will be paying for admission for the 15 dances.
15*4=$60
However, our answer isn't just $50 as we are also told membership costs $50. So no we add $50 to $60, which gives us an answer of $110, which is the amount the member will pay if they attend 15 dances during the school year.
The balance sheet consists of three major elements: assets, liabilities and owners' equity. The object of the statement is to prove true the accounting equation, "Asset = Liabilities + Owner's Equity."
