Question

complete the accounting equation​

Answer 1

Answer:

What is the basic accounting equation?

What is the basic accounting equation?1. Assets = Liabilities + Equity.

What is the basic accounting equation?1. Assets = Liabilities + Equity.2. Liabilities = Assets – Equity.

What is the basic accounting equation?1. Assets = Liabilities + Equity.2. Liabilities = Assets – Equity.3. Equity = Assets – Liabilities.

What is the basic accounting equation?1. Assets = Liabilities + Equity.2. Liabilities = Assets – Equity.3. Equity = Assets – Liabilities.4. Assets = Liabilities + Owner's Equity + Revenue – Expenses – Draws.

Explanation:

Liabilities = Assets – Owner's equity. = $60,000 – $40,000. = $20,000. The basic accounting equation is: Assets = Liabilities + Owner's equity. If liabilities plus owner's equity is equal to $150,000, the assets must also be equal to $150,000.