Question: Use the accounting equation to answer each question that follows. Show any calculations you make. 1. The assets of Rasche Company are $380,000 and the

Use the accounting equation to answer each question that follows. Show any calculations you make.

1. The assets of Rasche Company are $380,000 and the owner’s equity is $155,000. What is the amount of the liabilities?

2. The liabilities and owners’ equity of Lee Company are $65,000 and $79,500, respectively. What is the amount of the assets?

3. The liabilities of Hourka Company equal one-third of the total assets, and owner’s equity is $180,000. What is the amount of the liabilities?

4. At the beginning of the year, Jahis Company’s assets were $310,000 and its owner’s equity was $150,000. During the year, assets increased $45,000 and liabilities decreased $22,500. What is the owner’s equity at the end of the year?

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