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Use the basic accounting equation to answer these questions. (a) The liabilities of Lantz Company are $94,900 and the stockholders' equity is $279,000. What is the amount of Lantz Company's total assets? Total assets (b) The total assets of Salley Company are $194,000 and its stockholders' equity is $90,000. What is the amount of its total liabilities? Total liabilities (c) The total assets of Brandon Co. are $81 000 and its liabilities are equal to one-fourth of its total assets. What is the amount of Brandon Co.'s stockholders' equity? Stockholders' equity $

Use the basic accounting equation to answer these questions. (a) The liabilities of Lantz Company are $94,900 and the stockholders' equity is $279,000. What is the amount of Lantz Company's total assets? Total assets (b) The total assets of Salley Company are $194,000 and its stockholders' equity is $90,000. What is the amount of its total liabilities? Total liabilities (c) The total assets of Brandon Co. are $81 000 and its liabilities are equal to one-fourth of its total assets. What is the amount of Brandon Co.'s stockholders' equity? Stockholders' equity $

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Use the basic accounting equation to answer these questions. (a) The liabilities of Lantz Company are $94,900 and the stockholders' equity is $279,000. What is the amount of Lantz Company's total assets? Total assets (b) The total assets of Salley Company are $194,000 and its stockholders' equity is $90,000. What is the amount of its total liabilities? Total liabilities (c) The total assets of Brandon Co. are $81 000 and its liabilities are equal to one-fourth of its total assets. What is the amount of Brandon Co.'s stockholders' equity? Stockholders' equity $
Transcribed Image Text:Use the basic accounting equation to answer these questions. (a) The liabilities of Lantz Company are $94,900 and the stockholders' equity is $279,000. What is the amount of Lantz Company's total assets? Total assets (b) The total assets of Salley Company are $194,000 and its stockholders' equity is $90,000. What is the amount of its total liabilities? Total liabilities (c) The total assets of Brandon Co. are $81 000 and its liabilities are equal to one-fourth of its total assets. What is the amount of Brandon Co.'s stockholders' equity? Stockholders' equity $
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