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Mercury, Inc reports the following assets and liabilities

Accounting

Mercury, Inc reports the following assets and liabilities. Compute the totals that would appear in the corporation's basic accounting equation (Assets = Liabilities + Stockholder's Equity (Capital Stock)).

Cash $67,000
Accounts Payable 13,000
Supplies 2,800
Loan Payable 9,000
Inventory 12,000
Accounts Receivable 15,000
Equipment 25,000

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The answer is Assets = $121,800; Liabilities = $22,000 and Shareholder's Equity = $99,800

  Amount
Cash $67,000
Supplies 2,800
Inventory 12,000
Accounts Receivable 15,000
Equipment 25,000
Total Assets $121,800
  Amount
Accounts Payable $13,000
Loan Payable 9,000
Total Liabilities $22,000
  Amount
Total Assets $121,800
Less: Total Liabilities 22,000
Total Shareholder's Equity $99,800