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At the end of a recent​ year, Jefferson Cleaning​ Service, a​ full-service house and office cleaning​ service, had total assets of $ 6 comma 280 and equity of $ 3 comma 380. How much were Jefferson Cleaning​
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At the end of a recent​ year, Jefferson Cleaning​ Service, a​ full-service house and office cleaning​ service, had total assets of $ 6 comma 280 and equity of $ 3 comma 380. How much were Jefferson Cleaning​ Service's liabilities?

User Gourav Pokharkar
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1 Answer

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Answer:

Jefferson Cleaning Service's liabilities: 2,900

Step-by-step explanation:

Accounting Equation Formula

Assets = Liabilities + Owner's Equity

Asset – Owner's Equity = Liabilities

In Jefferson Cleaning Service`s case:

Liabilities = 6,280 – 3,380

Liabilities = 2,900

User Meral
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