Answer to Question #230711 in Accounting for Lady

Question

a. the liabilities of Holland company are 120,000$ and its stockholders' equity is 232,000. what is the amount of Holland company's total assets?b.the total assets of Holland company are 190,000$ and its stockholders' equity is 86,000$. What is the amount of its total liabilities?c.the total assets of Holland company are 600,00$ and its liabilities are equal to one-half of its total assets. What is the amount of Holland company's stockholders' equity?

Answer 1

Answer of Part a:

Holland Company’s Total Assets = Total Liabilities + Stockholders Equity

Holland Company’s Total Assets = $120,000 + $232,000

Holland Company’s Total Assets = $352,000

Answer of Part b:

Holland Company’s Total Liabilities = Total Assets – Stockholders Equity

Holland Company’s Total Liabilities = $190,000 - $86,000

Holland Company’s Total Liabilities = $104,000

Answer of Part c:

Holland Company’s Stockholders Equity = Total Assets – Total Liabilities

Holland Company’s Stockholders Equity = $600,000 – ($600,000 $\times 1/2$ )

Holland Company’s Stockholders Equity = $600,000 - $300,000

Holland Company’s Stockholders Equity = $300,000