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Homework answers / question archive / the appropropriate numeric value in each of the blank cells below
the appropropriate numeric value in each of the blank cells below. This question is based on the balance sheet equation: A = L + OE. DO NOT enter a $ sign, just numbers. Account Column 1 Column 2 Column 3 Cash 600 2.000 Inventory 2,400 2,500 4,000 1,000 500 1,000 Supplies Equipment 9,000 6,000 Total Assets 10,000 Loans Payable 5,000 4,000 Common Stock 8,000 2.000 Total L & OE 10,000 12,000
| Account | Column 1 | Column 2 | Column 3 |
|---|---|---|---|
| Cash | 600 | 2000 | 1000 |
| Inventory | 2400 | 2500 | 4000 |
| Supplies | 1000 | 500 | 1000 |
| Equipment | 9000 | 5000 | 6000 |
| Total Assets | 13000 | 10000 | 12000 |
| Loan Payable | 5000 | 4000 | 10000 |
| Common Stock | 8000 | 6000 | 2000 |
| Total L & OE | 13000 | 10000 | 12000 |
A=L+OE
Column 1:
Total asset = Cash +Inventory+Supplies+Equipment
= 600+2400+1000+9000
= 13000
Liabilities+Equity=5000+8000
=13000
Column 2:
Total Asset = Cash + inventory + supplies +equipment
10000 = 2000 + 2500 + 500 + Equipment
Equipment = 10000-2000-2500-500
Equipment = 5000
Total L & OE = Loans payable + common stock
10000 =4000 + common stock
Common Stock = 10000-4000
Common Stock = 6000
Column 3:
Given, Total L&OE = 12000
Since, Total Assets = Total L & OE
So, Total Assets = 12000
Total Asset = Cash + Inventory + Supplies + Equipment
12000 = Cash + 4000 + 1000 + 6000
Cash = 12000-4000-1000-6000
Cash = 1000
Total L & OE = Loan payable +Common Stock
12000 = Loan Payable + 2000
Loan Payable = 10000
