Using the Basic Accounting Equation
Use the basic accounting equation to answer the following:
a. Kendrick Company has total assets of $120,000 and total liabilities of $72,000.
How much is the company's total stockholders' equity?
$
b. Gassol Company has total liabilities of $96,000 and total stockholders' equity of$90,000.
What are the company's total assets?
$
c. If Brown Company's total assets increased by $18,000 during the year and its total liabilities
decreased during the same year by $12,000, what was the change in the
company's total stockholders' equity?
$