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Use the expanded accounting equation to answer each of the following questions. (a) The fiabilities of Crane Company are $98 , 000 , Owner's capital
Use the expanded accounting equation to answer each of the following questions. (a) The fiabilities of Crane Company are $98 , 000 , Owner's capital is $158 , 000 ; drawings are $95 , 000 ; revenues, $450 , 000 ; and expenses. $304 , 000 . What is the,amount of Crane Company s total assets? Totalassets $ (b) The total assets of Sierra Company are $62 , 000 . Owner's capital is $15 , 000 ; drawings are $7 , 500 ; revenues, $46 , 000 ; and expenses, $45 , 000 . What is the amount of the company's total liabilities? Total liabilities (c) The total assets of Birch Co. are $867 , 000 and its liabilities are equal to two-thirds of its total assets. What is the amount of Birch Cais owner's equity? Owner'sequity s
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