
Question Content Area
Determine the missing amount for each of the following:

Assets	Liabilities	Owner's Equity
$fill in the blank 1
$38,000	$45,000
$30,000	$fill in the blank 2
$22,000
$53,000	$32,000	$fill in the blank 3


To solve this, we use the basic accounting equation:

\[
\text{Assets} = \text{Liabilities} + \text{Owner's Equity}
\]

Now, let’s solve each part:

### 1. **Fill in the blank 1:**
\[
\text{Assets} = \text{Liabilities} + \text{Owner's Equity} = 38,000 + 45,000 = 83,000
\]
So, **Assets = $83,000**.

### 2. **Fill in the blank 2:**
\[
\text{Owner's Equity} = \text{Assets} - \text{Liabilities} = 30,000 - 22,000 = 8,000
\]
So, **Owner's Equity = $8,000**.

### 3. **Fill in the blank 3:**
\[
\text{Owner's Equity} = \text{Assets} - \text{Liabilities} = 53,000 - 32,000 = 21,000
\]
So, **Owner's Equity = $21,000**.

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Would you like more details or have any questions?

Here are 5 related questions for practice:
1. What is the accounting equation used for?
2. If assets are $100,000 and liabilities are $60,000, what is the owner's equity?
3. How do you determine liabilities if assets and owner's equity are given?
4. What happens if liabilities exceed assets?
5. How does an increase in liabilities affect owner's equity?

**Tip:** Always remember, in accounting, total assets must always equal the sum of liabilities and owner's equity.

Determine the missing amount for each of the following:
Assets	Liabilities	Owner's Equity
$fill in the blank 1
$38,000	$45,000
$30,000	$fill in the blank 2
$22,000
$53,000	$32,000	$fill in the blank 3

Learn how to determine missing amounts in the accounting equation using the formula Assets = Liabilities + Owner's Equity. This detailed solution covers solving for assets, liabilities, and owner's equity, including examples like $83,000 for assets and $8,000 for owner's equity. Suitable for students in Grades 9-12.

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