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Use the expanded accounting equation to answer each of the following questions. (a) The abilities of Cullumber Company are $99,000. Owner's capital is $143,000; drawings
Use the expanded accounting equation to answer each of the following questions. (a) The abilities of Cullumber Company are $99,000. Owner's capital is $143,000; drawings are $96,000; revenues, 5467.000; and expenses, 5301.000. What is the amount of Chamber Company's total assets? Total assets (b) The total assets of Sierra Company are $64,000. Owner's capital is $20,000; drawings are $5,000; revenues, $44,000, and expenses, $40,000. What is the amount of the company's total liabilities? Total liabilities (c) The total assets of Birch Co are 465,000 and its sabtes are equal to two-thirds of its total assets. What is the amount of Birch Cow a y Owner's equitys
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