17a | Accounting homework help

 

(Learning Objectives 3, 4: Apply the accounting equation; evaluate business operations) coffeeShop Doughnuts has current assets of $280 million; property, plant, and equipment of $430 million; and other assets totaling $170 million. Current liabilities are $170 million and long-term liabilities total $300 million.

 

▶Requirements

 

1. Use these data to write CoffeeShop Doughnuts’ accounting equation.

2. How much in resources does CoffeeShop have to work with?

3. How much does CoffeeShop owe creditors?

4. How much of the company’s assets do the CoffeeShop stockholders actually own?

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