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13 February, 00:16

Use the basic accounting equation to answer these questions. (a) The liabilities of Sunland Company are $94,000 and the stockholders' equity is $254,000. What is the amount of Sunland Company's total assets?

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  1. 13 February, 02:56
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    The amount of Sunland Company's total assets is $348,000.

    Explanation:

    In this question we use the accounting equation which is shown below:

    Total assets = Total liabilities + Shareholder's equity

    The total assets are the sum of the total liabilities and the shareholder's equity.

    The liabilities and stockholder's equity is given, so the total assets equal to

    = Total liabilities + Shareholder's equity

    = $94,000 + $254,000

    = $348,000
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Home » Business » Use the basic accounting equation to answer these questions. (a) The liabilities of Sunland Company are $94,000 and the stockholders' equity is $254,000. What is the amount of Sunland Company's total assets?
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