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

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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?$ ___________________________________

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