Essay
Use the accounting equation to answer the following questions.
1. Force 10 Sails Co. has total assets of $120,000 and total liabilities of $65,000. What is equity?
2. Marcy Fun Center has total assets of $225,000 and equity of $105,000. What are total liabilities?
3. Franco's Restaurant has total liabilities of $50,000 and equity of $75,000. What are total assets?
Correct Answer:
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1. $120000 - $65000 = $55000 e...View Answer
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Correct Answer:
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