Determine the Missing Amount "X" for Each of the Following

question 91

Essay

Determine the missing amount "X" for each of the following: $\begin{array}{|lc|l|l|}\hline & \text { Assets } & \text { Liabilities } &{\text { Stockholders' Equity }} \\\hline \text { a) } & \$ 78,500 & \$ 37,600 & X \\\hline \text { b) } & \mathrm{X} & \$ 53,280 & \$ 145,000 \\\hline \text { c) } & \$ 49,500 & \mathrm{X} & \$ 34,000\\\hline\end{array}$

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Definitions:

Contribution Format

A way of presenting income statements where variable costs are deducted from sales to find the contribution margin, then fixed costs are deducted to find net operating income.

Break-even Point

The level of production or sales at which total revenues equal total expenses, resulting in neither profit nor loss.

Unit Sales

The total quantity of products sold within a specific period, not accounting for price or cost.

Cost-Volume-Profit Relationships

An analysis tool that helps understand how changes in cost and volume affect a company's profits.