Use the accounting equation to answer each of the following questions. (a) The liabilities of Alli Company Ltd. are £90,000. Share capital—ordinary is £150,000; dividends are £40,000; revenues, £450,000; and expenses, £320,000. What is the amount of Alli Company Ltd.’s total assets? (b) The total assets of Planke Company Ltd. are £57,000. Share capital—ordinary is £23,000; dividends are £7,000; revenues, £50,000; and expenses, £35,000. What is the amount of the company’s total liabilities? (c) The total assets of Thao Co. Ltd. are £600,000 and its liabilities are equal to two-thirds of its total assets. What is the amount of Thao Co. Ltd.’s equity?
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(a) The liabilities of Alli Company Ltd. are £90,000. Share capital—ordinary is £150,000;
dividends are £40,000; revenues, £450,000; and expenses, £320,000. What is the
amount of Alli Company Ltd.’s total assets?
(b) The total assets of Planke Company Ltd. are £57,000. Share capital—ordinary is
£23,000; dividends are £7,000; revenues, £50,000; and expenses, £35,000. What is the
amount of the company’s total liabilities?
(c) The total assets of Thao Co. Ltd. are £600,000 and its liabilities are equal to two-thirds
of its total assets. What is the amount of Thao Co. Ltd.’s equity?
BE1-5 Indicate whether each of the following items is an asset (A), liab
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