To determine the missing amounts for each of the given items using the accounting equation (Assets = Liabilities + Stockholders' Equity), we'll solve for the blanks step by step.
a.
We are given:
- Assets = ?
- Liabilities = $1,200,000
- Stockholders' Equity = $875,000
Using the equation: \[ \text{Assets} = \text{Liabilities} + \text{Stockholders' Equity} \]
Substituting the values: \[ \text{Assets} = 1,200,000 + 875,000 \] \[ \text{Assets} = 2,075,000 \]
So, fill in the blank 1: $2,075,000
b.
We are given:
- Assets = $3,860,000
- Liabilities = ?
- Stockholders' Equity = $900,000
Using the equation: \[ \text{Assets} = \text{Liabilities} + \text{Stockholders' Equity} \]
Substituting the values: \[ 3,860,000 = \text{Liabilities} + 900,000 \]
To find Liabilities, we rearrange the equation: \[ \text{Liabilities} = 3,860,000 - 900,000 \] \[ \text{Liabilities} = 2,960,000 \]
So, fill in the blank 2: $2,960,000
c.
We are given:
- Assets = $71,850,000
- Liabilities = $59,100,000
- Stockholders' Equity = ?
Using the equation: \[ \text{Assets} = \text{Liabilities} + \text{Stockholders' Equity} \]
Substituting the values: \[ 71,850,000 = 59,100,000 + \text{Stockholders' Equity} \]
To find Stockholders' Equity, we rearrange the equation: \[ \text{Stockholders' Equity} = 71,850,000 - 59,100,000 \] \[ \text{Stockholders' Equity} = 12,750,000 \]
So, fill in the blank 3: $12,750,000
Summary of Answers
- a: $2,075,000
- b: $2,960,000
- c: $12,750,000
0 answers