Homework Answers
ASSETS = TOTAL LIABILITIES + EQUITY
| Particulars | Amount ($) |
| Liabilities : | |
| Accounts Payable | 10000 |
| Notes Payable | 20000 |
| Equity : | |
| Common Stock | 10000 |
| Retained Earnings | 2000 |
| Liabilities + Equity = Total Assets | 42000 |
Option B. $42000
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