Solve for the Unknown Item for Each of the Following

question 71

Short Answer

Solve for the unknown item for each of the following independent situations.
$\begin{array}{llll}&\text { CASE A } & \text { CASE B } & \text { CASE C }\\\text { Total assets } & \text { A } & 400 & 600 \\\text { Contributed capital } & 100 & 150 & \text { C } \\\text { Total revenues } & 400 & 300 & 400 \\\text { Total liabilities } & 600 & \text { B } & 250 \\\text { Beginning retained earnings } & (50) & 100 & 100 \\\text { Total expenses } & 250 & 350 & 200 \\\text { Dividends } & 0 & 50 & 0\end{array}$

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Definitions:

Principal Debtor

The main individual or entity responsible for repaying a debt or obligation.

Ancillary Bailee

An individual or entity that is temporarily entrusted with someone else's property for a specific, ancillary service, without transfer of ownership.

Surety

A person or entity that takes responsibility for another's performance of an undertaking, such as fulfilling a contract.

Debt

An obligation to repay borrowed money or goods at a later date, often involving interest fees.