Question: BE1.4 (LO 3) Use the expanded accounting equation to answer each of the following questions. a. The liabilities of Kumar Company are 90,000. Owner's capital
BE1.4 (LO 3) Use the expanded accounting equation to answer each of the following questions. a. The liabilities of Kumar Company are 90,000. Owner's capital is 150,000; drawings are 40,000: revenues, 2450,000 ; and expenses, 2340,000 . What is the amount of Kumar's total assets? b. The total assets of Kalim Company are 257,000 . Owner's capital is 235,000 ; drawings are 7.000; revenues, 252.000 ; and expenses, 235,000 . What is the amount of the company's total liabilities? c. The total assets of Siram Co, are 2660.000 and its liabilities are equal to two-thirds of its total assets. What is the amount of Sinam Co.'s owner's equity
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
