10 May WHAT IS THE AMOUNT OF OLGA COMPANY’S TOTAL ASSETS?
Brief Exercise 1-4Use 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 $780 000 and its liabilities are equal to two-thirds of its total assets. What is the amount of Dierdorf Co.’s stockholders’ equity?Dierdorf Co.’s stockholders’ equity?$ ___________________________________
Brief Exercise 1-4Use 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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