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

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Use the basic accounting equation to answer these questions.

(a) The liabilities of Bergmann Company are $90,000 and the stockholders’ equity is

$230,000. What is the amount of Bergmann Company's total assets?

(b) The total assets of Buchanan Company are $170,000 and its stockholders’ equity is

$90,000. What is the amount of its total liabilities?

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

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Financial Accounting Tools For Business Decision Making

ISBN: 9780471730514

4th Edition

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

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Question Posted: Jul 04, 2024 11:03 AM

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

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Financial Accounting Tools For Business Decision Making

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