# Given the accounting equation, answer each of the following questions. a. The liabilities of Berber Company are $120,000 and the owner’s equity is $230,000. What is the amount of Berber Company’s total assets?

The basic accounting equation is Assets = Liabilities + Owner’s

equity. Replacing the words in that equation with dollar amounts,

what is Apple’s accounting equation at September 26, 2015? (Hint:

Owner’s equity is equivalent to shareholders’ equity.)

Presented below is the basic accounting equation. Determine the missing amounts.

Assets = Liabilities + Owner’s Equity

a. $90,000 $50,000 ?

b. ? $44,000 $70,000

c. $94,000 ? $53,000

BE1.2 (LO 3) Given the accounting equation, answer each of the following questions.

a. The liabilities of Berber Company are $120,000 and the owner’s equity is $230,000. What is the

amount of Berber Company’s total assets?

b. The total assets of Berber Company are $190,000 and its owner’s equity is $89,000. What is the

amount of its total liabilities?

c. The total assets of Berber Company are $900,000 and its liabilities are equal to one-half of its total

assets. What is the amount of Berber Company’s owner’s equity?

BE1.3 (LO 3) At the beginning of the year, Gilles Company had total assets of $800,000 and total liabilities of $300,000. Answer the following questions.

a. If total assets increased $150,000 during the year and total liabilities decreased $60,000, what is the

amount of owner’s equity at the end of the year?

b. During the year, total liabilities increased $100,000 and owner’s equity decreased $70,000. What is

the amount of total assets at the end of the year?

c. If total assets decreased $80,000 and owner’s equity increased $120,000 during the year, what is the

amount of total liabilities at the end of the year?

BE1.4 (LO 3) Use the expanded accounting equation to answer each of the following questions.

a. The liabilities of Platt Company are $90,000. Owner’s capital is $150,000; drawings are $40,000;

revenues, $450,000; and expenses, $340,000. What is the amount of Platt Company’s total assets?

b. The total assets of Sierra Company are $57,000. Owner’s capital is $35,000; drawings are $7,000;

revenues, $52,000; and expenses, $35,000. What is the amount of the company’s total liabilities?

c. The total assets of Birch Co. are $660,000 and its liabilities are equal to two-thirds of its total assets.

What is the amount of Birch Co.’s owner’s equity?