Use the basic accounting equation to answer these questions: (a) The liabilities of Hogan Company are ($

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Use the basic accounting equation to answer these questions:

(a) The liabilities of Hogan Company are \(\$ 90,000\) and the stockholders' equity is \(\$ 240,000\). What is the amount of Hogan Company's total assets?

(b) The total assets of Potter Company are \(\$ 170,000\) and its stockholders' equity is \(\$ 90,000\). What is the amount of its total liabilities?

(c) The total assets of Barren Co. are \(\$ 700,000\) and its liabilities are equal to half of its total assets. What is the amount of Barren Co.'s stockholders' equity?

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Financial Accounting Tools For Business Decision Making

ISBN: 9780471169192

1st Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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