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Brief Exercise 1-2 Given the accounting equation, answer each of the following questions. (a) The liabilities of Whispering Winds Company are $123,000 and its stockholders'
Brief Exercise 1-2 Given the accounting equation, answer each of the following questions. (a) The liabilities of Whispering Winds Company are $123,000 and its stockholders' equity is $240,500. What is the amount of Whispering Winds Company's total assets? Whispering Winds Company's total assets $ (b) The total assets of Whispering Winds Company are $196,500 and its stockholders' equity is $90,500. What is the amount of its total liabilities? Whispering Winds Company's total liabilities $ (c) The total assets of Whispering Winds Company are $799,500 and its liabilities are equal to one-half of its total assets. What is the amount of Whispering Winds Company's stockholders' equity? Whispering Winds Company's stockholders' equity $
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