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Brief Exercise 1-4Use the expanded accounting equation to answer each of the following questions. (a) The liabilities of Roman Company are $82,070. Owners capital account
Brief Exercise 1-4Use the expanded accounting equation to answer each of the following questions. (a) The liabilities of Roman Company are $82,070. Owners capital account is $153,800; drawings are $94,020; revenues, $468,170; and expenses, $332,020. What is the amount of Roman Companys total assets?
(b) The total assets of Dylan Company are $61,260. Owners capital account is $15,310; drawings are $7,700; revenues, $48,850; and expenses, $31,600. What is the amount of the companys total liabilities?
(c) The total assets of Capp Co. are $360,000and its liabilities are equal to two-thirds of its total assets. What is the amount of Capp Co.s owners equity?
Roman Companys total assets | $ |
Dylan Companys total liabilities | $ |
Capp Co.s owners equity | $ |
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