202k views
5 votes
On June 30, 2015, Martin Co. has assets of $22,000 and owners' equity of $5,000. What is the total of its liabilities on that date?

1 Answer

3 votes

Assets = Liabilities + Owner's Equity

$22,000 = ? + $5,000 Subtract the $5,000 from $22,000 and that gives you the liabilities.

($17,000)

User Edvin Syse
by
8.3k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories