Financial information for three independent cases is as follows: a. The liabilities of Dent Company are $82,000,

Question:

Financial information for three independent cases is as follows:

a. The liabilities of Dent Company are $82,000, and its stockholders' equity is $120,000. What is the amount of Dent's total assets?

b. The total assets of Wayne Inc. are $55,000, and its stockholders' equity is $22,500. What is the amount of Wayne's total liabilities?

c. Gordon Company's total assets increased by $60,000 during the year, and its liabilities decreased by $35,000. Did Gordon's stockholders' equity increase or decrease? By how much?

Required:

Determine the missing amount for each case?

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Cornerstones of Financial Accounting

ISBN: 978-1337690898

4th edition

Authors: Jay Rich, Jeff Jones

Question Posted: Sep 21, 2024 05:14 AM

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Financial information for three independent cases is as follows: a. The liabilities of Dent Company are $82,000,

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Cornerstones of Financial Accounting

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