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’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’s stockholders’ equity?

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Financial Accounting Tools for Business Decision Making

ISBN: 978-1119493631

9th edition

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

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Question Posted: Aug 20, 2019 11:05 AM

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

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a 90000 230000 320000 Total assets Liabilities Stockholders equit...View the full answer

Financial Accounting Tools for Business Decision Making

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