Question 4 Use the basic accounting equation to answer these questions. (a) The

Question

Question 4 Use the basic accounting equation to answer these questions. (a) The liabilities of Lantz Company are $ 93,800 and the stockholders' equity is $245,000. What is the amount of Lantz Company's total assets? Total assets (b) The total assets of Salley Company are $ 183,000 and its stockholders' equity is $ 81,000. What is the amount of its total liabilities Total liabilities (c) The total assets of Brandon Co. are $ 860,000 and its liabilities are equal to one-fourth of its total assets. What is the amount of Brandon Co's stockholders' equity? Stockholders' equity

Explanation / Answer

Total assets=Stockholders equity+Total liabilities

1.Total assets=(93800+245000)=$338800

2.Total liabilities=(183000-81000)=$102,000

3.Stockholders equity=(860,000-(860000*1/4))

=$645,000.

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