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Use the fundamental accounting equation to answer these problems.

a) The liabilities of Daley Company are $92,460 and the stockholder's equity is $260,300. Find out the amount of Daley Company's total assets?

b) The total assets of Laven Company are $192,500 and its stockholder's equity is $89,200. Find out the amount of its total liabilities?

c) The total assets of Peterman Corporation are $903,100 and its liabilities are equivalent to one fourth of its total assets. Find out the amount of Peterman Co.'s stockholder's equity?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M918651

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