Answered

Westonci.ca offers fast, accurate answers to your questions. Join our community and get the insights you need now. Get expert answers to your questions quickly and accurately from our dedicated community of professionals. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.

A company's balance sheet has total assets of $400,000 and total equity of $350,000. What are the total liabilities?
i. $50,000
ii. $350,000
iii. $750,000
iv. Can't be determined

Sagot :

Parrain

Based on the total assets and total equity of the company, we can calculate the liabilities to be $50,000.

The Accounting equation is as follows:

Assets = Equity + Liabilities

Given the assets and the equity therefore, you can solve for liabilities:

400,000 = 350,000 + Liabilities

Solving gives:

Liabilities = 400,000 - 350,000

= $50,000

In conclusion, option i is correct.

Find out more about the accounting equation at https://brainly.com/question/24401217.

We hope this was helpful. Please come back whenever you need more information or answers to your queries. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Thank you for choosing Westonci.ca as your information source. We look forward to your next visit.