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The accounting equation for Pharoah Company is as follows: Assets   Liabilities   Stockholders' Equity $119200 = $59600 + $59600 If Pharoah purchases office equipment on account for $26200, the accounting equation will change to   Assets Liabilities Stockholders' Equity       $145400 = $72700   + $72700   $119200 = $59600   + $59600   $145400 = $59600   + $85800   $145400 = $85800   + $59600

The accounting equation for Pharoah Company is as follows: Assets   Liabilities   Stockholders' Equity $119200 = $59600 + $59600 If Pharoah purchases office equipment on account for $26200, the accounting equation will change to   Assets Liabilities Stockholders' Equity       $145400 = $72700   + $72700   $119200 = $59600   + $59600   $145400 = $59600   + $85800   $145400 = $85800   + $59600

FINANCIAL ACCOUNTING
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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The accounting equation for Pharoah Company is as follows:

Assets   Liabilities   Stockholders' Equity
$119200 = $59600 + $59600


If Pharoah purchases office equipment on account for $26200, the accounting equation will change to

  Assets Liabilities Stockholders' Equity

 

 

 
$145400 = $72700   + $72700

 
$119200 = $59600   + $59600

 
$145400 = $59600   + $85800

 
$145400 = $85800   + $59600
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