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Presented below $is$ the basic accounting equation missing amounts. $(in$ thousands$).$ Determine the

missing amounts.

Given the accounting equation, answer each $of$ the following questions.

$(a)$ The liabilities $of$ Shumway Company $Ltd.$ are $120,000$ and the equity $is232,000.$ What $is$ the

amount $of$ Shumway Company $Ltd.\text{'}s$ total assets?

$(b)$ The total assets $of$ Shumway Company $Ltd.$ are $190,000$ and its equity $is80,000.$ What $is$ the

amount $of$ its total liabilities?

$(c)$ The total assets $of$ Shumway Company $Ltd.$ are $600,000$ and its liabilities are equal $to$ one half $of$

its total assets. What $is$ the amount $of$ Shumway Company $Ltd.\text{'}s$ equity?

Classify each $of$ the following items $as$ dividends $(D),$ revenue $(R),or$ expense $(E).$

$(a)$ Advertising expense.

$(e)$ Dividends.

$(b)$ Service revenue.

$(f)$ Rent revenue.

$(c)$ Insurance expense.

$(g)$ Utilities expense.

$(d)$ Salaries and wages expense.

Presented below are three transactions. Mark each transaction $as$ affecting share capital$-$ordinary

$(SC)D670,000$ and total liabilities

$of6500,000.$ Answer the following questions.

$(a)If$ total assets increased $150,000$ during the year and total liabilities decreased $680,000,$ what $is$

the amount $of$ equity $at$ the end $of$ the year?

$(b)$ During the year, total liabilities increased $100,000$ and equity decreased $655,000.$ What $is$ the

amount $of$ total assets $at$ the end $of$ the year?

$(c)If$ total assets decreased $lon80,000$ and equity increased $120,000$ during the year, what $is$ the

amount $of$ total liabilities $at$ the end $of$ the year?

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

$(a)$ The liabilities $of$ Alli Company $Ltd.$ are $90,000.$ Share capital$-$ordinary $is150,000$; dividends are

$40,000$; revenues, $450,000$; and expenses, $320,000.$ What $is$ the amount $of$ Alli Company $Ltd.\text{'}s$

total assets?

$(b)$ The total assets $of$ Planke Company $Ltd.$ are $57,000.$ Share capital$-$ordinary $is23,000$;

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 $Co.Ltd.\text{'}s$ equity?

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