Exercises Week 1 ACC 561

The total assets of Salley Company are $195,000 and its stockholders' equity is $83,000. What is the amount of its total liabilities?

$112000 (Assets - Stockholder's Equity = Liabilities)

The liabilities of Lantz Company are $95,500 and the stockholders' equity is $277,000. What is the amount of Lantz Company's total assets?

$372500 (Liabilities + Stockholder's Equity = Assets)

The total assets of Brandon Co. are $810,000 and its liabilities are equal to one-fourth of its total assets. What is the amount of Brandon Co.'s stockholders' equity?

$607500 (Assets - Liabilities = Stockholder's Equity)

Supplies on hand at the end of the year.

Balance Sheet

Total debts outstanding at the end of the period.

Balance Sheet

Revenue during the period

Income Statement

Cash received from issuing new bonds during the period.

Statement of Cash Flows