Question

Use the accounting equation to answer each of the following questions.
(a) The liabilities of Olga Company are $90,000. Common stock account is $150,000; dividends are $40,000; revenues, $450,000; and expenses, $320,000. What is the amount of Olga Company’s total assets?
(b) The total assets of Lafayette Company are $57,000. Common stock account is $23,000; dividends are $7,000; revenues, $50,000; and expenses, $35,000. What is the amount of the company’s total liabilities?
(c) The total assets of Dierdorf Co. are $600,000 and its liabilities are equal to two-thirds of its total assets. What is the amount of Dierdorf Co.’s stockholders’ equity?



$1.99
Sales1
Views277
Comments0
  • CreatedFebruary 17, 2014
  • Files Included
Post your question
5000