Use the basic accounting equation to answer the following:

a. Perkins Company has total assets of $120,000 and total liabilities of $72,000. How much is the companys total stockholders equity? $Answer

b. Gassol Company has total liabilities of $136,000 and total stockholders equity of $76,000. How much total assets does the company have? $Answer

c. If Brown Companys total assets increased by $28,000 during the year, and its total liabilities decreased during the same year by $4,000, what was the change in the companys total stockholders equity? $Answer

Answer