Essay
Each of the following requirements is independent of the others.
a)Bruno Corporation has liabilities of $80,000 and equity of $110,000.What is the amount of Bruno's assets? ________________________________________________
b)Wilder Company has assets of $320,000 and liabilities of $100,000.What is the amount of equity? ______________________________________________________
c)Limon Company has assets of $90,000 and liabilities of $40,000.What is the amount of claims? _____________________________________________________________
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a)Assets = liabilities + equity = $80,00...View Answer
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Correct Answer:
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