Question

Riders reports the following assets and liabilities. Compute the totals that would appear in the corporation’s basic accounting equation (Assets = Liabilities + Stockholders’ Equity (Capital Stock)).

Bank Balance………………………...…...…..Rwf 17,000,000
Accounts Payable………………………….Rwf 15,000,000
Machinery………………………………………....Rwf 1,800,000
Bank Claims………………………………….....Rwf 15,800,000
Accounts Receivable…………………...Rwf 12,000,000

Answer 1

See below

Step-by-step explanation:

Assets are the valuables a business owes while liabilities are the items the business owes to third parties.

Form the list provided

Assets are

Bank Balance……… Rwf. 17,000,000

Accounts Receivable……Rwf 12,000,000

Machinery…………… …Rwf 1,800,000

Total Rwf 30,800,000

Liabilities are

Accounts Payable……………….Rwf 15,000,000

Bank Claims…………… Rwf 15,800,000

Total Rwf. 30,800,000