FIN. ACCT.-TOOLS FOR BUS.DEC.MAKING-CODE
9th Edition
ISBN: 9781119595724
Author: Kimmel
Publisher: WILEY C
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Chapter 1, Problem 1.8BE
(a)
To determine
Basic
Basic accounting equation refers to the relationship that exist among the primary constituents of balance sheet, those are the assets, the liabilities and the stockholders’ equities, depicted in the form of the mathematical equation. The accounting equation remains always in balance. It is also known as balance sheet equation.
The below figure represents the basic accounting equation:
Figure (1)
To calculate: The amount of Company L’s total assets.
(b)
To determine
To calculate: The amount of Company S’s total liabilities.
(c)
To determine
To calculate: The amount of Company B’s
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Use the basic accounting equation to answer these questions.
(a) The liabilities of Lantz Company are $94,900 and the stockholders' equity is $279,000. What is the amount of Lantz Company's total assets?
Total assets
(b) The total assets of Salley Company are $194,000 and its stockholders' equity is $90,000. What is the amount of its total liabilities?
Total liabilities
(c) The total assets of Brandon Co. are $81
000 and its liabilities are equal to one-fourth of its total assets. What is the amount of Brandon Co.'s stockholders' equity?
Stockholders' equity
$
Use the accounting equation to answer each of the following questions.
(a) The liabilities of Culver Company are $86,000. Common stock account is $156,000; dividends are $37,000; revenues, $448,000;
and expenses, $316,000. What is the amount of Culver Company's total assets?
Total assets $
(b) The total assets of Sheridan Company are $56,000. Common stock account is $19,500; dividends are $8,500; revenues, $51,000;
and expenses, $38.500. What is the amount of the company's total liabilities?
Total liabilities. $
(c) The total assets of Dierdorf Co. are $630,000 and its liabilities are equal to two-thirds of its total assets. What is the amount of
Dierdorf Co's stockholders' equity?
Stockholders equity
Use the accounting equation to answer each of the following questions.(a) The liabilities of Alli Company Ltd. are £90,000. Share capital—ordinary is £150,000; dividends are £40,000; revenues, £450,000; and expenses, £320,000. What is the amount of Alli Company Ltd.’s total assets?
Chapter 1 Solutions
FIN. ACCT.-TOOLS FOR BUS.DEC.MAKING-CODE
Ch. 1 - Prob. 1QCh. 1 - Prob. 2QCh. 1 - Prob. 3QCh. 1 - Accounting is ingrained in our society and is...Ch. 1 - Prob. 5QCh. 1 - Prob. 6QCh. 1 - What are the three main types of business...Ch. 1 - Prob. 8QCh. 1 - Prob. 9QCh. 1 - Prob. 10Q
Ch. 1 - Prob. 11QCh. 1 - What are the three main categories of the...Ch. 1 - Prob. 13QCh. 1 - Prob. 14QCh. 1 - Prob. 15QCh. 1 - Which of these items are liabilities of White...Ch. 1 - How are each of the following financial statements...Ch. 1 - What is the purpose of the management discussion...Ch. 1 - Prob. 19QCh. 1 - Prob. 20QCh. 1 - Prob. 21QCh. 1 - Prob. 1.1BECh. 1 - Match each of the following types of evaluation...Ch. 1 - Indicate in which part of the statement of cash...Ch. 1 - Prob. 1.4BECh. 1 - Prob. 1.6BECh. 1 - Indicate which statement you would examine to find...Ch. 1 - Prob. 1.8BECh. 1 - Prob. 1.9BECh. 1 - Prob. 1.10BECh. 1 - Prob. 1.11BECh. 1 - Prob. 1.1DIECh. 1 - Prob. 1.2DIECh. 1 - Prob. 1.3bDIECh. 1 - Here is a list of words or phi uses discussed in...Ch. 1 - Prob. 1.4ECh. 1 - Prob. 1.9ECh. 1 - Prob. 1.12ECh. 1 - Prob. 1.19ECh. 1 - Prob. 1.21ECh. 1 - Prob. 1.1APCh. 1 - Financial decisions often place heavier emphasis...Ch. 1 - INTERPRETING FINANCIAL STATEMENTS Xerox was not...Ch. 1 - Prob. 1.5EYCTCh. 1 - Prob. 1.9EYCTCh. 1 - Prob. 1.10EYCTCh. 1 - Prob. 1.1IPCh. 1 - Prob. 1.2IPCh. 1 - Prob. 1.3IP
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