2. Fill in the missing number for each of the following.Liabilities$42,000 +$45,500 +$3,000 +$10,000 +$15,000 +Assets$100,000 =$255,500Owner's Equity%3D%D%3D$42,000$70,000%3D$35,000$100,000$25,000%D

Solution As per the accounting equation Total assets = liabilities + owner's equity So,…

2. Fill in the missing number for each of the following. Assets Liabilities Owner's Equity $100,000 $255,500 $42,000 + $45,500 + $3,000 + $10,000 + $15,000 + $42,000 $70,000 %3D $35,000 = $100,000 = $25,000

2. Fill in the missing number for each of the following. Assets Liabilities Owner's Equity $100,000 $255,500 $42,000 + $45,500 + $3,000 + $10,000 + $15,000 + $42,000 $70,000 %3D $35,000 = $100,000 = $25,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

2. Fill in the missing number for each of the following.
Liabilities
$42,000 +
$45,500 +
$3,000 +
$10,000 +
$15,000 +
Assets
$100,000 =
$255,500
Owner's Equity
%3D
%D
%3D
$42,000
$70,000
%3D
$35,000
$100,000
$25,000
%D

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