Essay
Each of the following requirements is independent of the others.
a) Viking Corporation has liabilities of $85,000 and equity of $115,000. What is the amount of Viking's assets? _________________________________________________
b) Garibaldi Company has assets of $310,000 and liabilities of $95,000. What is the amount of Garibaldi's equity? ______________________________________________________
c) King Company has assets of $70,000 and liabilities of $25,000. What is the amount of King's claims? _____________________________________________________________
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a) Assets = liabilities + equi...View Answer
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Correct Answer:
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