EX 1-6 Accounting equation

Determine the missing amount for each of the following:

Assets 5 Liabilities 1 Stockholders’ Equity

a. X = $376,000 + $895,000

b. $1,375,000 = X + $855,000

c. $863,500 = $211,000 + X

Answer:

a. $1,271,000 ($376,000 + $895,000) 

b. $520,000 ($1,375,000 – $855,000) 

c. $652,500 ($863,500 – $211,000)