MC Qu. 149 Use the following information as of December...
Use the following information as of December 31 to determine equity.| Accounts payable | $900 |
| Accounts receivable | 800 |
| Cash | 2,500 |
| Wages expense | 9,400 |
| Wages payable | 1,320 |
| $3,300 | |
| $5,520 | |
| $11,620 | |
 | $1,080 |
| $10,480 |
| Assets: $800 + $9,400 = $3,300 |
| Liabilities: $900 + $1,320 = $2,220 |
| Equity: $3,300 – $2,220 = $1,080 |
