Question
Below is balance sheet information for five independent situations. Calculate the answer to each. 1. A company reports total assets of $3,560 and total liabilities
Below is balance sheet information for five independent situations. Calculate the answer to each.
1. A company reports total assets of $3,560 and total liabilities of $740. What is the amount of stockholders' equity?
2. A company reports total liabilities of $1,800 and stockholders' equity of $1,200. What is the amount of total assets?
3. A company reports total assets of $3,000 and total stockholders' equity of $450. What is the amount of total liabilities?
4. A company reports an increase in assets of $1,880 and an increase in liabilities of $600. What is the amount of the change in stockholders' equity? (Decreases should be indicated by a minus sign.)
5. A company reports an increase in liabilities of $280 and a decrease in stockholders' equity of $1,160. What is the amount of the change in total assets? (Decreases should be indicated by a minus sign.)
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