Use the basic accounting equation to answer these questions. (a) The liabilities of Lantz Company are $90,000

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Use the basic accounting equation to answer these questions.
(a) The liabilities of Lantz Company are $90,000 and the stockholders' equity is $230,000. What is the amount of Lantz Company's total assets?
(b) The total assets of Salley Company are $170,000 and its stockholders' equity is $80,000. What is the amount of its total liabilities?
(c) The total assets of Brandon Co. are $800,000 and its liabilities are equal to one-fourth of its total assets. What is the amount of Brandon Co.'s stockholders' equity?
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Survey of Accounting

ISBN: 978-1119330028

1st edition

Authors: Paul D. Kimmel, Jerry J. Weygandt

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