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Michael Tekestel 02/24/20 11:20 AM ACC-121-06: Spring 2020 - Xiao Time Limit: 01:45:00 Submit Test Test: Test 1 - Spring 2020
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Answer #1

Answer is D ie. $2520.

Because the Accounting equation is

Assets= Liabilities - Capital.

Here Capital means Owners equity or stockholders equity.

Here Assets= $5180

Capital or equity = $2660

Therefore Liability= Assets - Capital or Equity

Ie. Liability = $5180 - $2660= $2520

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