Use the basic accounting equation to answer these questions. a. The liabilities of Lantz Company are $90,000
Question:
Use the basic accounting equation to answer these questions.
a. The liabilities of Lantz Company are $90,000 and the stockholders’ equity is $230,000. What is the amount of Lantz’s total assets?
b. The total assets of Salley Company are $170,000 and its stockholders’ equity is $80,000. What is the amount of its total liabilities?
c. The total assets of Brandon Co. are $800,000 and its liabilities are equal to one-fourth of its total assets. What is the amount of Brandon’s stockholders’ equity?
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a 90000 230000 320000 Total assets Liabilities Stockholders equit...View the full answer
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Related Book For 
Financial Accounting Tools for Business Decision Making
ISBN: 978-1119493631
9th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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