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Determine the missing amount for each of the following: \(\begin{aligned} \text { a. } & \mathrm{X} &=\$ 85,000+& \$ 215,600 \\ \text { b. } & \$ 93,500 &=\mathrm{X}+& 6,150 \\ \text { c. } & 42,500 &=11,275+& \mathrm{X} \end{aligned}\)

Short Answer

Expert verified
a) 300,600; b) 87,350; c) 31,225.

Step by step solution

01

Solve for X in part (a)

We are given \( X = 85,000 + 215,600 \). To find \( X \), simply add the two numbers together: \[ X = 85,000 + 215,600 = 300,600 \] So, the missing amount \( X \) in part (a) is 300,600.
02

Solve for X in part (b)

In this case, we have \( 93,500 = X + 6,150 \). To isolate \( X \), subtract 6,150 from both sides of the equation: \[ X = 93,500 - 6,150 = 87,350 \] Therefore, the missing amount \( X \) for part (b) is 87,350.
03

Solve for X in part (c)

The equation provided is \( 42,500 = 11,275 + X \). To find \( X \), subtract 11,275 from both sides:\[ X = 42,500 - 11,275 = 31,225 \]Thus, the missing amount \( X \) for part (c) is 31,225.

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Key Concepts

These are the key concepts you need to understand to accurately answer the question.

Equation Solving
Equation solving is a key skill in algebra that involves finding the values of variables that make an equation true. Equations often have an equals sign ( = ), and the goal is to balance both sides by adjusting the unknown variable, often represented by symbols like X . In the original exercise, the unknowns are the missing amounts that need to be calculated.

To solve an equation, we use strategies to isolate the variable on one side of the equation. This can include adding, subtracting, multiplying, or dividing both sides by the same number. By performing the same operation on both sides, we maintain the equation's balance.
  • Part (a) is a straightforward addition equation: X = 85,000 + 215,600 , making the solution a simple calculation.
  • Part (b) involves subtraction: 93,500 = X + 6,150 . We subtract 6,150 from both sides to isolate X .
  • Part (c)'s setup is 42,500 = 11,275 + X . Similarly, subtract 11,275 from both sides to find X .
Understanding equation solving helps students tackle various mathematical problems beyond just algebra.
Mathematical Operations
In algebra, mathematical operations are crucial for manipulating equations and solving for unknown variables. These operations include addition, subtraction, multiplication, and division, and they are the backbone of equation solving.

In this specific problem, only addition and subtraction are needed:
  • Addition: When dealing with equations like part (a), you add the numbers together to find the sum. Here, 85,000 + 215,600 gives 300,600 .
  • Subtraction: For parts (b) and (c), subtraction helps isolate X . In part (b), subtracting 6,150 from 93,500 yields 87,350 . In part (c), 42,500 - 11,275 results in 31,225 .
These operations are often combined in more complex problems, requiring a sound understanding of their properties and applications in solving equations.
Problem Solving Steps
Successful problem solving in algebra often requires following clear, logical steps. This systematic approach ensures accuracy and can make seemingly complex problems manageable.

Here’s a breakdown of the general steps used in this exercise:
  • Understand the Problem: Identify what is being asked. Determine which numbers are given and what you are solving for.
  • Set Up the Equation: Write the equation based on the problem description. For example, you might have something like X = 85,000 + 215,600 .
  • Manipulate the Equation: Use mathematical operations to isolate the variable. This might involve adding or subtracting terms from both sides of the equation.
  • Calculate the Solution: Perform the operations needed to solve for X . Double-check each step for accuracy.
  • Verify the Solution: Substitute back into the original equation to ensure it holds true.
By consistently applying these steps, students develop a structured approach to problem-solving that can be applied to both simple and more complex algebraic equations.

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Most popular questions from this chapter

a. A vacant lot acquired for \(\$ 75,000\) is sold for \(\$ 145,000\) in cash. What is the effect of the sale on the total amount of the seller's (1) assets, (2) liabilities, and (3) owner's equity? b. Assume that the seller owes \(\$ 40,000\) on a loan for the land. After receiving the \(\$ 145,000\) cash in (a), the seller pays the \(\$ 40,000\) owed. What is the effect of the payment on the total amount of the seller's (1) assets, (2) liabilities, and (3) owner's equity?

Four different proprietorships, Alpha, Bravo, Charlie, and Delta, show the same balance sheet data at the beginning and end of a year. These data, exclusive of the amount of owner's equity, are summarized as follows: \begin{tabular}{lrrr} & Total Assets & Total Liabilities \\ \hline Beginning of the year End of the year & \(\$ 1,350,000\) & \(\$ 540,000\) \\\ & \(2,160,000\) & 900,000 \end{tabular} On the basis of the above data and the following additional information for the year, determine the net income (or loss) of each company for the year. (Hint: First determine the amount of increase or decrease in owner's equity during the year.) Alpha: The owner had made no additional investments in the business and had made no withdrawals from the business. Bravo: The owner had made no additional investments in the business but had withdrawn \(\$ 120,000\). Charlie: The owner had made an additional investment of \(\$ 270,000\) but had made no withdrawals. Delta: The owner had made an additional investment of \(\$ 270,000\) and had withdrawn \(\$ 120,000\).

The total assets and total liabilities of Coca-Cola and PepsiCo are shown below. \begin{tabular}{lcc} & Coca-Cola (in millions) & PepsiCo (in millions) \\ \hline Assets & \(\$ 31,327\) & \(\$ 27,987\) \\ Liabilities & 15,392 & 14,415 \end{tabular} Determine the owners' equity of each company.

Each of the following items is shown in the financial statements of Exxon Mobil Corporation. Identify the financial statement (balance sheet or income statement) in which each item would appear. a. Accounts payable i. Marketable securities b. Cash equivalents j. Notes and loans payable c. Crude oil inventory k. Notes receivable d. Equipment 1\. Operating expenses e. Exploration expenses \(\mathrm{m}\). Prepaid taxes f. Income taxes payable n. Sales g. Investments o. Selling expenses h. Long-term debt

Frontier Sports sells hunting and fishing equipment and provides guided hunting and fishing trips. Frontier Sports is owned and operated by Wally Schnee, a well-known sports enthusiast and hunter. Wally's wife, Helen, owns and operates Blue Sky Boutique, a women's clothing store. Wally and Helen have established a trust fund to finance their children's college education. The trust fund is maintained by First Bank in the name of the children, Anna and Conner. For each of the following transactions, identify which of the entities listed should record the transaction in its records. \begin{tabular}{ll} \multicolumn{2}{l}{ Entities } \\ \hline F & Frontier Sports \\ B & First Bank Trust Fund \\ S & Blue Sky Boutique \\ X & None of the above \end{tabular} 1\. Wally paid a breeder's fee for an English springer spaniel to be used as a hunting guide dog. 2\. Helen paid her dues to the YWCA. 3\. Helen purchased two dozen spring dresses from a Denver designer for a special spring sale. 4\. Helen deposited a \(\$ 3,500\) personal check in the trust fund at First Bank. 5\. Wally paid for an advertisement in a hunters' magazine. 6\. Helen authorized the trust fund to purchase mutual fund shares. 7\. Wally paid for dinner and a movie to celebrate their tenth wedding anniversary. 8\. Helen donated several dresses from inventory for a local charity auction for the benefit of a women's abuse shelter. 9\. Wally received a cash advance from customers for a guided hunting trip. 10\. Wally paid a local doctor for his annual physical, which was required by the workmen's compensation insurance policy carried by Frontier Sports.

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