A company had total assets of $36,000,000 and Total Stockholder's Equity of $4,000,000. Using accounting equation, how much were Total liabilities? a. $36,000,000 b. $32,000,000 c. $40,000,000 d. $4,000,000 e. $20,000,000

A company had total assets of $36,000,000 and Total Stockholder's Equity of $4,000,000. Using accounting equation, how much were Total liabilities? a. $36,000,000 b. $32,000,000 c. $40,000,000 d. $4,000,000 e. $20,000,000

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

A company had total assets of $36,000,000 and Total Stockholder's Equity of $4,000,000. Using accounting equation, how much were Total liabilities?

$36,000,000

$32,000,000

$40,000,000

$4,000,000

$20,000,000

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