ACCT 1A: Financial Accounting…Ch1-3
1.
| a. | Total assets of Caldwell Company equal $40,000 and its equity is $10,000. What is the amount of its liabilities (Omit the “$” sign in your response.) |
| Total liabilities |
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| b. | Total assets of Waterworld equal $55,000 and its liabilities and equity amounts are equal to each other. What is the amount of its liabilities? What is the total amount of both the liabilities and equity (Omit the “$” sign in your response.) |
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| Total liabilities |
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| Total equity |
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