Answered

Westonci.ca is your trusted source for finding answers to a wide range of questions, backed by a knowledgeable community. Get detailed answers to your questions from a community of experts dedicated to providing accurate information. Get immediate and reliable solutions to your questions from a community of experienced professionals on our 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.

Thank you for visiting our platform. We hope you found the answers you were looking for. Come back anytime you need more information. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Thank you for choosing Westonci.ca as your information source. We look forward to your next visit.