13. As of December 31, 2010, Majan Company has assets of $S3,500 and owner's equity of $2,000. What are the liabilities for Majan Company as of December 31, 2010? .a. $1,500 .b. $1,000 c. $2,500. d. $2,000.

13. As of December 31, 2010, Majan Company has assets of $S3,500 and owner's equity of $2,000. What are the liabilities for Majan Company as of December 31, 2010? .a. $1,500 .b. $1,000 c. $2,500. d. $2,000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

13. As of December 31, 2010, Majan Company has assets of
$3,500 and owner's equity of $2,000. What are the
liabilities for Majan Company as of December 31, 2010?
.a. $1,500
.b. $1,000
c. $2,500.
d. $2,000.

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