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how do I get the accounts payable under liability BULLDOG, INC. Balance Sheet Liabilities Assets 3,800 Accounts payable Cash Accounts receivable Stockholders Equity 2,800 8,8

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Answer #1

Answer---------Accounts payable balance = $4,400

I am assuming that Common stock and retained earnings amounts are correct .

As per the accounting equation Total assets = Liabilities + Equity

In the above incomplete balance sheet we know the amount of total assets and total equity only the amount missing is for liabilities.

We use the above use equation to solve this question as follows

If Assets = Liabilities +Equity then

Liabilities = Assets - Equity

Liabilities = 25200-(11000+9800)

Liabilities = $4400

In above case the liability consist of only account payable so the balance in account payable will be $4,400

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