Question

What is the liability when the assets is 46000.

1c. What is the amount of liabilities on December 31, 2019 for Company A. Equity Assets Liabilities

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Answer #1
Assets = Liabilities + Equity
$    46,000 = 0 + $       46,000
Workings:
Assets = $ 46,000
Less: Liabilities = 0
Equity = $ 46,000

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