Question
se the expanded accounting equation to answer each of the following questions. (a) The liabilities of Roman Company are $90,000. Owner?s capital account is $150,000;
se the expanded accounting equation to answer each of the following questions. (a) The liabilities of Roman Company are $90,000. Owner?s capital account is $150,000; drawings are $40,000; revenues, $450,000; and expenses, $320,000. What is the amount of Roman Company?s total assets? Roman Company?s total assets $ (b) The total assets of Dylan Company are $57,000. Owner?s capital account is $25,000; drawings are $7,000; revenues, $52,000; and expenses, $35,000. What is the amount of the company?s total liabilities? Dylan Company?s total liabilities $ (c) The total assets of Capp Co. are $600,000 and its liabilities are equal to two-thirds of its total assets. What is the amount of Capp Co.?s owner?s equity? Capp Co.?s owner?s equity $
Use the expanded accounting equation to answer each of the following questions. (a) The liabilities of Roman Company are $90,000. Owner's capital account is $150,000; drawings are $40,000; revenues, $450,000; and expenses, $320,000. What is the amount of Roman Company's total assets? Roman Company's total assets $ (b) The total assets of Dylan Company are $57,000. Owner's capital account is $25,000; drawings are $7,000; revenues, $52,000; and expenses, $35,000. What is the amount of the company's total liabilities? Dylan Company's total liabilities $ (c) The total assets of Capp Co. are $600,000 and its liabilities are equal to twothirds of its total assets. What is the amount of Capp Co.'s owner's equity? Capp Co.'s owner's equity $Step by Step Solution
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