Determine the missing amount for each of the following:

Assets = Liabilities + Owner's Equity

a. $ = $556,000 + $3,374,000

b. $6,111,200 = $ + $5,725,000

c. $2,150,000 = $812,500 + $

(a) $3,930,000

(b) $386,200

(c) $1,337,500

Explanation:

(a) Assets = Liabilities + Owner's Equity

Assets = $556,000 + $3,374,000

= $3,930,000

(b) Assets = Liabilities + Owner's Equity

$6,111,200 = Liabilities + $5,725,000

Liabilities = $6,111,200 - $5,725,000

= $386,200

(c) Assets = Liabilities + Owner's Equity

$2,150,000 = $812,500 + Owner's Equity

Owner's Equity = $2,150,000 - $812,500

= $1,337,500