(Solved by Humans)-Problem: For the following four cases, use the accounting equation to compute the missing quantity.
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Problem: For the following four cases, use the accounting equation to compute the missing quantity. Note: I was given four cases but apparently I am missing something. For example the first case states: $20,000 assets, $8,000 liabilities, and $3,500 in Retained Earnings. Find the Captial stock. I know that assets = liabilities plus owner's equity. So would I subtract $11,500 from $20,000? How would i know how to find the capital stock? In the other problems I would have to find the assets, libiabilties, or retained earnings.
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This question was answered on: 10 May, 2025
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