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Suppose a local company has the following balance sheet accounts. Calculate the missing amounts assuming the business has total assets of $35,250. Accounts: Land: 8,700 Equipment ? Salaries Payable 4,000 Notes Payable ? Supplies 1,950 Cash 6,900 Stockholders equity 13,200 Accounts Payable 1,550 Pre-Paid rend 2,900
Suppose a local company has the following balance sheet accounts. Calculate the missing amounts assuming the business has total assets of $35,250. Accounts: Land: 8,700 Equipment ? Salaries Payable 4,000 Notes Payable ? Supplies 1,950 Cash 6,900 Stockholders equity 13,200 Accounts Payable 1,550 Pre-Paid rend 2,900
Final answer:To calculate the missing amounts in the balance sheet, use the equation: Total Assets = TotalLiabilities+ TotalEquity. Subtract the sum of the known amounts from the total assets to find the missing values.Explanation:To calculate the missing amounts in the balance sheet, we need to use the equation:Total Assets = Total Liabilities + Total EquityGiven that the total assets are $35,250, we can start by adding up the known amounts:Land: $8,700Supplies: $1,950Cash: $6,900Stockholders equity: $13,200Accounts Payable: $1,550Pre-Paid rent: $2,900The sum of these amounts is $35,200. To find the missing amounts, subtract this sum from the total assets:Missing Equipment value = $35,250 - $35,200 = $50Missing Notes Payable = $35,250 - $35,200 = $50Learn more aboutBalance Sheetshere:brainly.com/question/34287613#SPJ11...