Question
Use the accounting equation to answer each of the following questions. (a) The liabilities of Flint Company are $88,000. Common stock account is $150,000; dividends
Use the accounting equation to answer each of the following questions. (a) The liabilities of Flint Company are $88,000. Common stock account is $150,000; dividends are $41,000; revenues, $431,000; and expenses, $330,000. What is the amount of Flint Companys total assets?
Total assets | $ |
(b) The total assets of Windsor, Inc. are $60,000. Common stock account is $23,000; dividends are $6,000; revenues, $49,000; and expenses, $33,000. What is the amount of the companys total liabilities?
Total liabilities | $ |
(c) The total assets of Dierdorf Co. are $600,000 and its liabilities are equal to two-thirds of its total assets. What is the amount of Dierdorf Co.s stockholders equity?
Stockholders equity | $
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