Ex. 176
Determine the missing amount for each of the following.
Assets=Liabilities + Stockholders' Equity
1.(a)$30,000$95,000
2.$125,000(b)$85,000
3.$150,000$65,000(c)
Ex. 177
For the items listed below, fill in the appropriate code letter to indicate whether the item is an asset, liability, or stockholders' equity item.
Code
AssetA
LiabilityL
Stockholders' EquitySE
1.____Rent Expense_____ 6.Cash
2.____Office Equipment_____ 7.Accounts Receivable
3.____Accounts Payable_____ 8.Dividends
4.____Common Stock_____ 9.Service Revenue
5.____Insurance Expense_____ 10.Notes Payable