Use the Accounting Equation to Answer the Following Questions

question 241

Essay

Use the accounting equation to answer the following questions.
1. Force 10 Sails Co. has total assets of $120,000 and total liabilities of $65,000. What is equity?
2. Marcy Fun Center has total assets of $225,000 and equity of $105,000. What are total liabilities?
3. Franco's Restaurant has total liabilities of $50,000 and equity of $75,000. What are total assets?

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Definitions:

Rapid

Occurring in a short time or at a great speed.

Rhythmic Brain-Wave

Oscillations in electrical activity within the brain that are part of its normal functioning, often associated with different states of consciousness.

REM Sleep

The sleep stage associated with vivid dreaming, marked by rapid movements of the eyes, and considered important for emotional regulation and memory.

Sleep Spindles

Bursts of brain activity visible on an EEG that occur during stage 2 of sleep. They are believed to play a role in sensory processing and long-term memory consolidation.