# Given the accounting equation, answer each of the following questions. a. The liabilities of Berber Company are $120,000 and the owners equity is $230,000. What is the amount of Berber Companys total assets? b. The total assets of Berber Company are $190,000 and its owners equity is $89,000. What is the amount of its total liabilities? c. The total assets

Chapter 1, Brief Exercises #2

Given the accounting equation, answer each of the following questions.

a. The liabilities of Berber Company are $120,000 and the owner’s equity is $230,000. What is the amount of Berber Company’s total assets?

b. The total assets of Berber Company are $190,000 and its owner’s equity is $89,000. What is the amount of its total liabilities?

c. The total assets of Berber Company are $900,000 and its liabilities are equal to one-half of its total assets. What is the amount of Berber Company’s owner’s equity?

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**Related Book For**

## Accounting Principles

13th edition

**Authors:** Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

**ISBN:** 978-1119411482