Use the accounting equation to answer each question that follows. Show any calculations you make. 1. The

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Use the accounting equation to answer each question that follows. Show any calculations you make.

1. The assets of Dusan Corporation are $760,000, and the stockholders’ equity is $310,000. What is the amount of the liabilities?

2. The liabilities and stockholders’ equity of Bem Corporation are $130,000 and $159,000, respectively. What is the amount of the assets?

3. The liabilities of Acosta Corporation equal one-third of the total assets, and stockholders’ equity is $90,000. What is the amount of the liabilities?

4. At the beginning of the year, Larry Corporation’s assets were $620,000, and its stockholders’ equity was $300,000. During the year, assets increased $90,000 and liabilities decreased $45,000. What is the stockholders’ equity at the end of the year?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Financial Accounting

ISBN: 978-0538476010

11th edition

Authors: Belverd E. Needles, Marian Powers

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