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What is the formula for Gross Pay?
Hourly Rate x Hours Worked
90,000
Total Revenue – Total Expenses
Owner's Equity = Assets - Liabilities
9500
90,750
70,000
An asset
What is the Income Statement Equation
Hourly Rate x Hours Worked
90,000
Total Revenue – Total Expenses
Owner's Equity = Assets - Liabilities
9500
90,750
70,000
An asset
If Income $10,000 and Revenue= $ 100,000, what is the company's expenses?
Hourly Rate x Hours Worked
90,000
Total Revenue – Total Expenses
Owner's Equity = Assets - Liabilities
9500
90,750
70,000
An asset
If Income $50,000 and Expenses = $ 20,000, what is the company's revenue?
Hourly Rate x Hours Worked
90,000
Total Revenue – Total Expenses
Owner's Equity = Assets - Liabilities
9500
90,750
70,000
An asset
If Assets = $28,000 and Liabilities = $ 18,500, what is Owner’s Equity?
Hourly Rate x Hours Worked
90,000
Total Revenue – Total Expenses
Owner's Equity = Assets - Liabilities
9500
90,750
70,000
An asset
If XYZ Corp. pays $800 in September for office supplies that are to be used for the next three months, what category of account does the $800 purchase fall into?
Hourly Rate x Hours Worked
90,000
Total Revenue – Total Expenses
Owner's Equity = Assets - Liabilities
9500
90,750
70,000
An asset
What is the accounting equation?
Hourly Rate x Hours Worked
90,000
Total Revenue – Total Expenses
Owner's Equity = Assets - Liabilities
9500
90,750
70,000
An asset
If Liabilities = $56,400 and Owner’s Equity = $34,350,
Hourly Rate x Hours Worked
90,000
Total Revenue – Total Expenses
Owner's Equity = Assets - Liabilities
9500
90,750
70,000
An asset
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