Using the Basic Accounting Equation Use the basic accounting equation to answer

Question

Using the Basic Accounting Equation Use the basic accounting equation to answer the following a. Perkins Company has total assets of $300.000 and total labili s 120.000 b. Gassol Company has total liabilities of $340.000 and total stockholders equity of $190,000. How much total assets does the s 530000 C if Brown Companys total assets increased by S70000 during the year, and its total liabilities decreased during the same company's total ties of $180,000. How much is the company's total stockholders equity? company have? year by $10,000, what was the change in the equity?

Explanation / Answer

c. The change in the company’s total stockholders’ equity was:

= $70,000 + $10,000

= $80,000 increase

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