Determine the Missing Amount Designated with an "X" for Each

question 23

Essay

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

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Definitions:

Cash Flow Statement

A financial document providing comprehensive detail about a company's cash inflows and outflows over a specified period.

Noncash Asset

Assets owned by a business not in the form of cash but may be converted into cash within a year, such as inventory and property.

Change in Cash

The difference in a company's cash balance over a specified period, indicating the net increase or decrease in cash.

Net Income

The total earnings of a company after all expenses and taxes have been subtracted from total revenue.