Components of the accounting equation


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Components of the accounting equation 1 answer below ยป The financial condition of GreyCo Inc. is expressed in the following accounting equation: Assets = Liabilities + Common Stock + Retained earnings $800 Cash + $9,200 Land = $7,000 + $2,000 + $1,000 a. Determine the maximum dividend GreyCo can pay. b. Suppose the land sinks into the sea as a result of an earthquake and
resulting tsunami. The business is then liquidated. How much cash will creditors receive? How much cash will investors receive? (Assume there are no legal fees
or other costs of liquidation.) Dec 09 2013 04:00 AM

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