Question

Determine the missing amount from each of the separate situations a, b, and c below.

A B C Assets 1 2 3 4 (b) (a) ?\( (c) 154,000 100,000 \) 20,000 ? 34,000 $ 45,000 40,000

Short answer

Assets in part A is$65,000, equity in part B is $66,000,and Liabilities in part C is $114,000

Step-by-step solution

Calculation of A part

$$\begin{gathered} \mathbf{Assets}\mathbf{=}\mathbf{Liabilities}\mathbf{+}\mathbf{Equity} \\ \mathbf{=}\mathbf{20}\mathbf{,}\mathbf{000}\mathbf{+}\mathbf{45}\mathbf{,}\mathbf{000} \\ \mathbf{=}\mathbf{\$}\mathbf{65}\mathbf{,}\mathbf{000} \end{gathered}$$

Calculation of B part

$$\begin{gathered} \mathbf{Equity}\mathbf{=}\mathbf{Assets}\mathbf{-}\mathbf{Liabilities} \\ \mathbf{=}\mathbf{100}\mathbf{,}\mathbf{000}\mathbf{-}\mathbf{34}\mathbf{,}\mathbf{000} \\ \mathbf{=}\mathbf{\$}\mathbf{66}\mathbf{,}\mathbf{000} \end{gathered}$$

Calculation of part C

$$\begin{gathered} \mathbf{Liabilities}\mathbf{=}\mathbf{Assets}\mathbf{-}\mathbf{Equity} \\ \mathbf{=}\mathbf{154}\mathbf{,}\mathbf{000}\mathbf{-}\mathbf{40}\mathbf{,}\mathbf{000} \\ \mathbf{=}\mathbf{\$}\mathbf{114}\mathbf{,}\mathbf{000} \end{gathered}$$