S6 Find the Missing Numbers a if assets 200 equity 50 then w

S6. Find the Missing Numbers a. if assets 200& equity 50 then what does liability? b. if liability 300 & assets 200 then what does equity? c. if liability 10 & equity 40 then what does asset? d. if assets 10 & revenues 20 & expenses 15 then what does liability? assuming all other numbers are 0

Solution

Answer a.

Assets = Liability + Equity
200 = Liability + 50
Liability = 150

Answer b.

Assets = Liability + Equity
200 = 300 + Equity
Equity = -100

Answer c.

Assets = Liability + Equity
Assets = 10 + 40
Assets = 50

Answer d.

Equity = Revenue - Expenses
Equity = 20 - 15
Equity = 5

Assets = Liability + Equity
10 = Liability + 5
Liability = 5