Compute the missing amount in the accounting equation for each business. & Assets & Liabilities & Owner's Equity Flowers and Gifts & ? & & & 196,000 Bountiful Baskets & 280,000 & ? & & 220,000 Dauphin Gift and Cards & 151,000 & 115,000 & ? & ? Compute the missing amount in the accounting equation for each business. Flowers and Gifts: Assets = square Bountiful Baskets: Liabilities = square Dauphin Gift and Cards: Owner's Equity = square

## Step 1: Understanding the Accounting Equation<br />### The accounting equation is given by:<br />\[<br />\text{Assets} = \text{Liabilities} + \text{Owner's Equity}<br />\]<br />This equation must hold true for each company, and we will use it to find the missing values.<br /><br />## Step 2: Calculating Assets for Flowers and Gifts<br />### For Flowers and Gifts, we need to calculate the Assets. We have:<br />- Liabilities = $124,000<br />- Owner's Equity = $196,000<br /><br />Using the accounting equation:<br />\[<br />\text{Assets} = \text{Liabilities} + \text{Owner's Equity} = 124,000 + 196,000<br />\]<br /><br />## Step 3: Calculating Liabilities for Bountiful Baskets<br />### For Bountiful Baskets, we need to calculate the Liabilities. We have:<br />- Assets = $280,000<br />- Owner's Equity = $220,000<br /><br />Rearranging the accounting equation to solve for Liabilities:<br />\[<br />\text{Liabilities} = \text{Assets} - \text{Owner's Equity} = 280,000 - 220,000<br />\]<br /><br />## Step 4: Calculating Owner's Equity for Dauphin Gift and Cards<br />### For Dauphin Gift and Cards, we need to calculate the Owner's Equity. We have:<br />- Assets = $151,000<br />- Liabilities = $115,000<br /><br />Rearranging the accounting equation to solve for Owner's Equity:<br />\[<br />\text{Owner's Equity} = \text{Assets} - \text{Liabilities} = 151,000 - 115,000<br />\]