# Brief Exercise 1-4 Use the accounting equation to answer each of the following questions (a) The lia

Brief Exercise 1-4

Use the accounting equation to answer each of the following questions

(a) The liabilities of Olga Company are \$87,060 Common stock account is \$145,800; dividends are \$91,610; revenues, \$443,250; and expenses, \$316,360 What is the amount of Olga Company’s total assets?

Olga Company’s total assets\$ _______________________________________

(b) The total assets of Lafayette Company are \$66,030 Common stock account is \$22,480; dividends are \$8,980; revenues, \$43,960; and expenses, \$39,080 What is the amount of the company’s total liabilities?

Company’s total liabilities\$ __________________________________________

(c) The total assets of Dierdorf Co are \$780,000 and its liabilities are equal to two-thirds of its total assets What is the amount of Dierdorf Co‘s stockholders’ equity?

Dierdorf Co‘s stockholders’ equity?\$ ___________________________________