(1) If the assets of a business are $480.000 and the liabilities are $160,000, how...
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Accounting
(1) If the assets of a business are $480.000 and the liabilities are $160,000, how much is the equity? (2) If the equity in a business is $160.000 and the liabilities are $100,000, how much are the assets? (3) A company reported monthly revenues of $385.000 and monthly expenses of $225.000. What is the result of operations for the month? (4) if the beginning balance of retained earnings is $180,000. revenue is $85.000, expenses total $35,000, and the company declares and pays a $20,000 dividend, what is the ending balance of retained earnings? (1) If the assets of a business are $480,000 and the liabilities are $160.000, how much is the equity? In order to calculate the equity, we must use the accounting equation. Begin by determining the accounting equation, then solve for the equity. J = Equity
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