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If assets are $253,099 and equity is $136,586, liabilities must be:

Question

If assets are 253,099andequityis253,099 and equity is 136,586, liabilities must be:

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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 = 253,099253,099 - 136,586

So, the liabilities would be $116,513.

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