Topics, 100 Accounting Resources, 100 Lecture List
10. What is the amount of equity giving the following: cash is 30,000, accounts receivable is 9,000, supplies are 500, equipment is 7,000, and accounts payable are 3,000?
a. 49,500
b. 39,000
c. 30,000
d. 43,500
e. 41,000
Recommendations – Write down the accounting equation. Apply accounts to correct area of the accounting equation. Add up each section. Use algebra to solve.
Answer
D
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