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Hands-on Clinic => Food and Culinary Arts => Topic started by: jc611 on Aug 15, 2020

Title: A business has $750,000 in liabilities. The balance sheet for the business shows assets of $2 ...
Post by: jc611 on Aug 15, 2020

Question 1

A business has $1.5 million in assets. The balance sheet for the business shows owner's equity of $500,000. What is the amount of this business's liabilities?
◦ $1 million
◦ $1.5 million
◦ $2 million
◦ $2.5 million

Question 2

A business has $750,000 in liabilities. The balance sheet for the business shows assets of $2 million. What is the amount of owner's equity in this business?
◦ $1 million
◦ $1.25 million
◦ $1.5 million
◦ $1.75 million

Title: A business has $750,000 in liabilities. The balance sheet for the business shows assets of $2 ...
Post by: kalskdjl1212 on Aug 15, 2020

Answer 1

$1 million

Answer 2

$1.25 million