Compute the following requirements from the given data below: Part I Assets Liabilities+ Equity 1. 2M= ? +1.8M 2. ? = 375,000 + 500,000 3. 1.6M 400,000+? 4. Revenue 1.7M - Expenses 1.3M= Net Profit? = 5. What is the new Equity Amount if we add the result of # 4 with #3.

Compute the following requirements from the given data below: Part I Assets Liabilities+ Equity 1. 2M= ? +1.8M 2. ? = 375,000 + 500,000 3. 1.6M 400,000+? 4. Revenue 1.7M - Expenses 1.3M= Net Profit? = 5. What is the new Equity Amount if we add the result of # 4 with #3.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 17MC: If equity equals $100,000, which of the following is true? A. Assets exceed liabilities by $100,000....

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Question

Compute the following requirements from the given
data below:
Part I
Assets Liabilities+ Equity
1. 2M= ? +1.8M
2. ? = 375,000 + 500,000
3. 1.6M 400,000+?
4. Revenue 1.7M - Expenses 1.3M=
Net Profit?
=
5. What is the new Equity Amount if we add the result
of # 4 with #3.

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Step 1: Introduce to Accounting Equation

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Step 2: Working total liabilities of #1

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Step 3: Working for total assets of #2

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Step 4: Working for total equity of #3

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Step 5: Working for net profit of #4

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Step 6: Working for new equity

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