Question

1. The accounting equation for Bear Enterprises is too - $120.000 5120 000 o ng $240.000 If the company how preparen S Assets Lab A) $240.000 - 3138.000 B) $278.000 - 3138,000 C) $240.000 = $120.000 D) $258.000 - 5138,000 - - - Stockholders 5102.000 $138.000 3120.000 $120.000 8. The accounting equation for Woolsey Enterprises is as follows Labtes $720,000 $350.000 - Stockholders Equity - $360,000 the company now purchases a truck on account for 580,000, the accounting equation will change to Assets Labtes $780,000 - $780,000 $780.000 $720.000 - Stockholders' Equity $360,000 $420,000 $390.000 - $384.000 $420.000 $350.000 $360,000 $350.000

Answer 1

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Correct option is: C) $240000 = $120000 + $120000
	Asset	=	Liabilities	+	Stockholder's Equity
Balance	$   2,40,000	=	$ 1,20,000	+	$                      1,20,000
Cash	-18000	=	$             0	+	$                                 0
Prepaid rent	18000	=	0	+	0
Balance	$   2,40,000	=	$ 1,20,000	+	$                      1,20,000
Correct option is: C) $780000 = $420000 + $360000
	Asset	=	Liabilities	+	Stockholder's Equity
Balance	$   7,20,000	=	$ 3,60,000	+	$                      3,60,000
Equipment	60000	=	$     60,000	+	$                             0
Balance	$   7,80,000	=	$ 4,20,000	+	$                      3,60,000