Question

Rubinski Enterprises Inc. has long-term bonds worth $20 million, retained earnings of $45 million, accounts payable of $10 million, notes payable of $12 million, and inventory worth $18 million. What is the value of total liabilities of Ruby Enterprises

Answer 1

$42,000,000

Step-by-step explanation:

Rubinski enterprise has a long term bond of $20 million

The retained earnings is $45 million

The account payable is $10 million

The notes payable is $12 million

The inventory is $18 million

Therefore, the value of the total liabilities of Ruby enterprises can be calculated as follows

= long term bond+ account payable+notes payable

=$20,000,000+$10,000,000+$12,000,000

= $42,000,000

Hence the value of total liabilities of Ruby enterprises is $42,000,000