use the basic accounting equation to answer these questions. (a) the liabilities of crane company are…

use the basic accounting equation to answer these questions. (a) the liabilities of crane company are $90,000 and the stockholders equity is $280,000. what is the amount of cranes total assets? total assets $ (b) the total assets of bramble company are $185,000 and its stockholders equity is $82,000. what is the amount of its total liabilities? total liabilities $ (c) the total assets of pronghorn co. are $865,000 and its liabilities are equal to one - fourth of its total assets. what is the amount of pronghorns stockholders equity? stockholders equity $

use the basic accounting equation to answer these questions. (a) the liabilities of crane company are $90,000 and the stockholders equity is $280,000. what is the amount of cranes total assets? total assets $ (b) the total assets of bramble company are $185,000 and its stockholders equity is $82,000. what is the amount of its total liabilities? total liabilities $ (c) the total assets of pronghorn co. are $865,000 and its liabilities are equal to one - fourth of its total assets. what is the amount of pronghorns stockholders equity? stockholders equity $

Answer

Explanation:

Step1: Recall basic accounting equation

The basic accounting equation is $Assets = Liabilities+Stockholders' Equity$.

Step2: Solve part (a)

Given $Liabilities = 90000$ and $Stockholders' Equity=280000$. Substitute into the equation: $Assets=90000 + 280000=370000$.

Step3: Solve part (b)

Given $Assets = 185000$ and $Stockholders' Equity = 82000$. Rearrange the equation to find $Liabilities$. So, $Liabilities=Assets - Stockholders' Equity=185000 - 82000 = 103000$.

Step4: Solve part (c)

Given $Assets = 865000$ and $Liabilities=\frac{1}{4}\times Assets=\frac{1}{4}\times865000 = 216250$. Then, using the accounting equation $Stockholders' Equity=Assets - Liabilities=865000-216250 = 648750$.

Answer:

(a) $370000 (b) $103000 (c) $648750