Homework Answers
Solution case 1:
Total Assets = $5000 + $9000 = $14000
Total liabilities = $6000+1400 = $7400
Income = Total assets - Total Liabilities - Capital + expense = $14000 - $7400 - $3000 + $5000 = $8,600
Solution Case 2:
Total Assets = $7000 + $5000 = $12000
Total liabilities = $2000+3000 = $5000
Expense = Total Liabilities +Capital + Income - Total Assets = $5000 + $2000 +$26000 - $12000 = $21,000
Solution Case 3:
Total Assets = $21000 + $61000 = $82000
Total liabilities = $9000+12000 = $21000
Capital = Total assets - Total Liabilities - Income + expense = $82000 -$21000 -$60100 + $41000 = $41,900
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