Using the Basic Accounting Equation

Use the basic accounting equation to answer the following:

a$.$ Kendrick Company has total assets of $$80,000$ and total liabilities of $$48,000.$

How much is the company$$s total stockholders$$ equity?

$Answer $1$

b$.$ Gassol Company has total liabilities of $$64,000$ and total stockholders$$ equity of $$60,000.$

What are the company$$s total assets?

$Answer $2$

c$.$ If Brown Company$$s total assets increased by $$12,000$ during the year and its total liabilities decreased during the same year by $$8,000,$ what was the change in the

company$$s total stockholders$$ equity?

$Answer $3$ Answer $4$IncreaseDecrease