Homework Answers
Ans:
1. We know that Total Assets is Equal to Sum of total liabilities and Equities
Total Assets= 750,000; Equities= 445,000
Total Liabilities= total assets- Equity
Total Liabilities= 750,000-445,000
Total Liabilities= 305,000
2. Total Assets= 550,000
Given, Liabilities= Equities
Assets= Liabilities+ Equities
550,000= 2 Liabilities
275,000= Liabilities
Therefore Equities are 275,000
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