Kwantum Corporation has total assets of $3,600,000, common stock of $936,000, and retained earnings of $570,000...
Kwantum Corporation has total assets of $3,600,000, common stock of $936,000, and retained earnings of $570,000 at December 31, 2022. What are the creditors' claims on their assets at that date?
|
$2,094,000 |
||
|
$3,966,000 |
||
|
$1,506,000 |
||
|
$3,234,000 |
Homework Answers
| The correct answer is $2,094,000 | |
| Assets = | Liabilities + Common Stock + Retained Earnings |
| Liabilities = | $3,600,000 - $936,000 - $570,000 |
| = | $2,094,000 |
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