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Author Question: A business has $750,000 in liabilities. The balance sheet for the business shows assets of $2 ... (Read 354 times)

jc611

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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


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Marked as best answer by jc611 on Aug 15, 2020

kalskdjl1212

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jc611

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Reply 2 on: Aug 15, 2020
YES! Correct, THANKS for helping me on my review


skipfourms123

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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