A company's balance sheet has total assets of $400 000

Posted By Admin @ September 03, 2022


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


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 brainly.com/question/24401217.

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