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Brief Exercise 1-04 Use the expanded accounting equation to answer each of the following questions....

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Accounting

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Brief Exercise 1-04 Use the expanded accounting equation to answer each of the following questions. (a) The abilities of Crane Company are $98,000. Owner's capital is $158,000; drawings are $95,000; revenues, $450,000; and expenses, $304,000. What is the amount of Crane Company's total assets? Total assets $ (b) The total assets of Sierra Company are $62,000. Owner's capital is $15,000, drawings are $7,500; revenues, $46,000; and expenses, 545,000. What is the amount of the company's total liabilities? Total liabilities $ (c) The total assets of Birch Co. are $867,000 and its liabilities are equal to two-thirds of its total assets. What is the amount of Birch Co.'s owner's equity? Owner's equity $

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