#### Question:

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

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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