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Exercise 2.2 Completing The Accounting Equation. LO 2-1, 2-2

This document provides an accounting exercise to calculate missing values in the fundamental accounting equation for 5 businesses. The accounting equation sets assets equal to liabilities plus owner's equity. Students are given values for assets, liabilities, and owner's equity for each business, and must calculate the missing value based on the accounting equation. The exercise is intended to reinforce understanding of the relationship between asset, liability, and owner's equity accounts.

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Sundaramani Saran
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2K views2 pages

Exercise 2.2 Completing The Accounting Equation. LO 2-1, 2-2

This document provides an accounting exercise to calculate missing values in the fundamental accounting equation for 5 businesses. The accounting equation sets assets equal to liabilities plus owner's equity. Students are given values for assets, liabilities, and owner's equity for each business, and must calculate the missing value based on the accounting equation. The exercise is intended to reinforce understanding of the relationship between asset, liability, and owner's equity accounts.

Uploaded by

Sundaramani Saran
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 2

9/8/2015

1.

AssignmentPrintView

Award: 1 out of 1.00 point

Exercise 2.2 Completing the accounting equation. LO 2-1, 2-2


Thefundamentalaccountingequationforseveralbusinessesfollows.Calculatethemissingamounts.

Assets
=
Liabilities
+
OwnersEquity
1.

27,800

5,560

22,240

2.

24,200

5,180

19,020

3.

16,075

10,400

4.

32,325

5.

25,125

36,725
34,000

5,675
4,400
8,875

References
Worksheet

LearningObjective:
0201Recordin
equationformthe
financialeffectsofa
business
transaction.

Exercise2.2
Completing
the
accounting
equation.LO
21,22

LearningObjective:
0202Define,
identify,and
understandthe
relationship
betweenasset,
liability,andowners
equityaccounts.

Exercise 2.2 Completing the accounting equation. LO 2-1, 2-2


Thefundamentalaccountingequationforseveralbusinessesfollows.Calculatethemissingamounts.

http://ezto.mheducation.com/hm_accounting.tpx?todo=printviewSingle

2/3

9/8/2015

AssignmentPrintView

Assets

Liabilities

OwnersEquity

1.

27,800

5,560

22,240

2.

24,200

5,180

19,020

3.

16,075

5,675

10,400

4.

36,725

4,400

32,325

5.

34,000

8,875

25,125

Explanation:
Nofurtherexplanationdetailsareavailableforthisproblem.

http://ezto.mheducation.com/hm_accounting.tpx?todo=printviewSingle

3/3

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