(a) The value of stockholders' equity is calculated as follows:
Stockholders' equity = Total assets - Total Liabilities
= ($806,000 + $189,000) - ($595,000 - $88,000)
= $995,000 - $507,000
= $488,000
(b) The value of total assets is calculated as follows:
Total assets = Total liabilities + Stockholders' equity
= ($595,000 + $91,000) + ( $211,000 - $77,000)
= $686,000+ $134,000
= $820,000
Where,
Stockholders' equity = Total assets - Total l;iabilities
= $806,000 - $595,000
= $211,000
(c) The value of total liabilities is calculated as follows:
Total liabilities = Total assets - Stockholders' equity
= ($806,000 - $83,000) - ($211,000 - $101,000)
= $723,000 - $110,000
= $613,000
IN At the beginning of the year, Crane Company had total assets of $806,000 and total...
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