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Using the fundamental accounting equation and its derivations, calculate the missing values in the following table entries.
Accounting
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6 partsa
b
c
d
e
f
The fundamental accounting equation is:
From this, we can derive:
We will use these formulas to complete the table.
a) Calculate Equity:
b) Calculate Assets:
c) Calculate Liability:
d) Calculate Equity:
Assumption: The asset value "1,105,27" is interpreted as N 1,105,270.
e) Calculate Liability:
f) Calculate Assets:
Completed Table:
| Assets (N) | Liability (N) | Equity (N) | |
|---|---|---|---|
| (a) | 95,000 | 43,254 | 51,746 |
| (b) | 222,136 | 173,200 | 48,936 |
| (c) | 367,100 | 157,995 | 209,105 |
| (d) | 1,105,270 | 1,212,871 | -107,601 |
| (e) | 88,000 | 26,000 | 62,000 |
| (f) | 528,000 | 418,000 | 110,000 |
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