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This Tutorial comes with Excel File to solve for any values
Resource: WileyPLUS
Complete the following Week 1 Assignment in WileyPLUS:


Brief Exercise: 1-7
Brief Exercise: 1-8
Brief Exercise 1-7
Indicate which statement you would examine to find each of the
following items: income statement, balance sheet, retained earnings
statement, or statement of cash flows.
(a)
(b)
(c)
(d)
Revenue during the period.
Supplies on hand at the end of the year.
Cash received from issuing new bonds during the period.
Total debts outstanding at the end of the period.
Brief Exercise 1-8
Use the basic accounting equation to answer these questions.
(a) The liabilities of Lantz Company are $93,800 and the stockholders’
equity is $245,000. What is the amount of Lantz Company’s total assets?
(b) The total assets of Salley Company are $183,000 and its
stockholders’ equity is $81,000. What is the amount of its total liabilities?
(c) The total assets of Brandon Co. are $860,000 and its liabilities are
equal to one-fourth of its total assets. What is the amount of Brandon
Co.’s stockholders’ equity?
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ACC 561 Week 1 Wileyplus Practice Quiz