Use the basic accounting equation to answer these questions. (a) The liabilities of Daley Company are $90,000 and the stockholders equity is $230,000. What is the amount of Daley Companys total assets? (b) The total assets of Laven Company are $170,000 and its stockholders equity is $80,000. What is the amount of its total liabilities? (c) The total assets of
Chapter 1, Brief Exercises #8
Use the basic accounting equation to answer these questions.
(a) The liabilities of Daley Company are $90,000 and the stockholders’ equity is $230,000. What is the amount of Daley Company’s total assets?
(b) The total assets of Laven Company are $170,000 and its stockholders’ equity is $80,000. What is the amount of its total liabilities?
(c) The total assets of Peterman Co. are $800,000 and its liabilities are equal to onefourth of its total assets. What is the amount of Peterman Co.’s stockholders’ equity?
(a) The liabilities of Daley Company are $90,000 and the stockholders’ equity is $230,000. What is the amount of Daley Company’s total assets?
(b) The total assets of Laven Company are $170,000 and its stockholders’ equity is $80,000. What is the amount of its total liabilities?
(c) The total assets of Peterman Co. are $800,000 and its liabilities are equal to onefourth of its total assets. What is the amount of Peterman Co.’s stockholders’ equity?
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Financial Accounting Tools for business decision making
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
ISBN: 978-0470534779