Question
Given the accounting equation, answer each of the following questions. (a) The liabilities of Blossom Company are $110,000 and the owners equity is $222,000. What
Given the accounting equation, answer each of the following questions. (a) The liabilities of Blossom Company are $110,000 and the owners equity is $222,000. What is the amount of Blossom Companys total assets?
| Total assets | $enter the total assets amount in dollars |
(b) The total assets of Blossom Company are $180,000 and its owners equity is $80,000. What is the amount of its total liabilities?
| Total liabilities | $enter the total liabilities amount in dollars |
(c) The total assets of Blossom Company are $200,000 and its liabilities are equal to one-half of its total assets. What is the amount of Blossom Companys owners equity?
| Owners equity | $enter the owners equity amount in dollars |
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Internal Auditing: Principles And Techniques
Authors: Richard L. Ratliff, W. Wallace, Walter B. Mcfarland, J. Loeboecke
1st Edition
0894131672, 978-0894131677
