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

question 75

Essay

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

Identify the components of a post-closing trial balance and its preparation process.

Recognize the impact of various accounting entries on financial statements.

Comprehend the concept of reversing entries and their applications.

Master the classification of accounts based on their nature and normal balances.

---

Definitions:

Federal Agency

A unit of the federal government in the United States established by Congress to enforce laws and regulations in a specific area.