At the end of an accounting period, a company's total assets equaled $505,000, and owner's equity equaled $230,000. How much were the company's liabilities?
At the end of an accounting period, a company's total assets equaled $505,000, and owner's equity equaled $230,000. How much were the company's liabilities?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![At the end of an accounting period, a company's
total assets equaled $505,000, and owner's equity
equaled $230,000. How much were the company's
liabilities?
liabilities = [ ?]
Round to te nearest hundredth.
Enter
p03 - 2022 International Academy of Science. All Rights Reserved.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F657b0f2c-505d-4f01-9591-bc88ec786b35%2F8cc87b1e-8c0f-4bf3-8135-a9808e105f39%2F0qwee9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:At the end of an accounting period, a company's
total assets equaled $505,000, and owner's equity
equaled $230,000. How much were the company's
liabilities?
liabilities = [ ?]
Round to te nearest hundredth.
Enter
p03 - 2022 International Academy of Science. All Rights Reserved.
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