Question

. Use the accounting equation to compute the missing financial statement amounts (a), (b), and (c). A B C D Company Assets 1 2 3 4 \( 75,000 85,000 (b) \) (a) 20,000 25,000 1 3 2 \( 40,000 (c) 70,000 = + Liabilities Equity

2. Use the expanded accounting equation to compute the missing financial statement amounts (a) and (b). A D B F C E G 1 2 3 4 1 2 \) 80,000 \( 40,000 \) 32,000 \( 16,000 \) 44,000 \( 20,000 \) 18,000 \( 8,000 (b) \) 0 $ 24,000 (a) Company Assets Liabilities Revenues Expenses

Short answer

The liabilities for company 1 is $35,000, assets for company 2 is $95,000, and equity for company 3 is $65,000. The revenues for company 1 is $12,000 and dividends for company 2 is $2,000

Step-by-step solution

Part 1

Company	Assets =	Liabilities +	Equity
1	75,000	35,000	40,000
2	95,000	25,000	70,000
3	85,000	20,000	65,000

Part 2

Company	Assets =	Liabilities +	Common stock -	Dividends +	Revenues -	Expenses
1	40,000	16,000	20,000	0	12,000	8,000
2	80,000	32,000	44,000	2,000	24,000	18,000