A Math a https://mbamath.com/Dashboard /subjects/6/ essons/83/quizzes/102 10 Ret

Question

A Math a https://mbamath.com/Dashboard /subjects/6/ essons/83/quizzes/102 10 Retained Earnings Sold and delivered product to customer Jan 5 Cash 67 Debt 67 Borrowed money from bank Jan 6 Cash 80 80 Paid-In Capital Issued stock Jan 7 Inventory 16 16 Accounts Payable Bought manufacturing supplies on credit Accounts Payable Jan 8 7 Cash Paid money owed to supplier Jan 9 Cash 10 Accounts Receivable 10 Jan 10 Property, Plant & Equipment 48 Cash 48 Paid cash for machine What is the final amount in Total Equity? Please specify your answer in the same units as the balance sheet Type heie to search

Explanation / Answer

Answer:

Ending Total Equity = Beginning Total Equity + Increase / (Decrease) in Total Equity
Increase / (Decrease) in Total Equity = $10,000 + $80,000
Increase in Total Equity = $90,000

Ending Total Equity = $30,600 + $90,000
Ending Total Equity = $120,600

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