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a. Total assets of Charter Company equal $710,000 and its equity is $425,000. What is the amount of its liabilities
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a. Total assets of Charter Company equal $710,000 and its equity is $425,000. What is the amount of its liabilities

User Andrey Shabalin
by
4.3k points

1 Answer

2 votes

Answer:

the amount of its liabilities is $285,000

Step-by-step explanation:

From the Accounting Equation, we know that :

Assets - Liabilities = Equity

Therefore,

Liabilities = Assets - Equity

= $710,000 - $425,000

= $285,000

User Lova
by
4.6k points
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