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Using the expanded accounting equation, solve for the missing amount Assets = $84,325 Liabilities = $2,560 Common Stock = ? Dividends = $13,450 Revenues = $54,780 Expenses = $28,125
Using the expanded accounting equation, solve for the missing amount
Assets = $84,325
Liabilities = $2,560
Common Stock = ?
Dividends = $13,450
Revenues = $54,780
Expenses = $28,125
Expert Solution
Answer:
The value of the common stock is $68,560.
Explanation:
As per the data provided:
- Assets = $84,325
- Liabilities = $2,560
- Dividends = $13,450
- Revenues = $54,780
- Expenses = $28,125
Computation:
The extended accounting equation for a corporation is presented below:
- Assets = Liabilities + Common stock + Revenues - Expenses - Dividends
- Common stock = $84,325 - $2,560 - $54,780 + $28,125 + $13,450
- Common stock = $68,560
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