Use the basic accounting equation to answer these questions.

(a) The liabilities of Jantz Company are $90,000 and the stockholders' equity is $230,000. What is the amount of Jantz Company's total assets?

(b) The total assets of Foley Company are $170,000 and its stockholders' equity is $80,000. What is the amount of its total liabilities?

(c) The total assets of Sundberg Co. are $800,000 and its liabilities are equal to one-fourth of its total assets. What is the amount of Sundberg Co.'s stockholders' equity?

Answer rating: 100% (QA)

a Liabilities 90000 AddStock Holders Equity 230000 Assets 320... View the full answer