Question
Given the accounting equation, answer each of the following questions. (a) The liabilities of Pharoah Company are $127,000and the owner's equity is $227,000. What is
Given the accounting equation, answer each of the following questions.
(a)The liabilities of Pharoah Company are $127,000and the owner's equity is $227,000. What is the amount of Pharoah Company's total assets?
Total assets: $
(b)The total assets of Pharoah Company are $185,000and its owner's equity is $89,000. What is the amount of its total liabilities?
Total liabilities: $
(c)The total assets of Pharoah Company are $684,000and its liabilities are equal to one-half of its total assets. What is the amount of Pharoah Company's owner's equity?
Owner's equity: $
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