If assets are $253,099 and equity is $136,586, liabilities must be:
Question
If assets are 136,586, liabilities must be:
Solution
To find the liabilities, you can use the basic accounting equation which is:
Assets = Liabilities + Equity
You are given the values for assets and equity, so you can rearrange the equation to solve for liabilities:
Liabilities = Assets - Equity
Substitute the given values into the equation:
Liabilities = 136,586
So, the liabilities would be $116,513.
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