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A company's balance sheet shows total assets of $62,500 and total liabilities of $37,800. What is the amount of equity? What is the amount of net assets?

A company's balance sheet shows total assets of $62,500 and total liabilities of $37,800. What is the amount of equity? What is the amount of net assets?

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 20GI
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A company's balance sheet shows total assets of $62,500 and total liabilities of $37,800. What is the amount of equity? What is the amount of net assets?

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