Use the expanded accounting equation to answer each of the following questions. (Roman Company, Dylan Company, Capp Co.) 2023 Business Finance

2023 Use the expanded accounting equation to answer each of the following questions a The liabilities of Roman

Use the expanded accounting equation to answer each of the following questions.

(a) The liabilities of Roman Company are $90,000. Owner’s capital account is $150,000; drawings are $40,000; revenues, $450,000; and expenses, $320,000. What is the amount of Roman Company’s total assets?

b) The total assets of Dylan Company are $57,000. Owner’s capital account is $25,000; 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 Capp Co. are $600,000 and its liabilities are equal to two-thirds of its total assets. What is the amount of Capp Co.’s owner’s equity?

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