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HCMG/750 HCMG750 HCMG 750 Week 1 Discussion 2

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HCMG 570 Week 1 Discussion 2 What is the common accounting equation that reflects the relationship among liabilities, owner’s equity, and assets? Define each Exercise: Place each one in the proper order so that the equation from above equals: (show your work) Cash 89,000 Accounts Payable 25,000 Buildings 1,000,000 Mortgage Payable 250,000 Retained Earnings 837,000 Payroll Taxes due 9,000 Patient receivables 55,000 Accounts payable: Supplies 23,000 What is the difference between an expense and a cost? Minimum of 450-500 words in length and properly sourced.

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