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If a company has total assets of $1,000,000 and total liabilities of $400,000, what is the total equity? A) $400,000 B) $500,000 C) $600,000 D) $700,000

If a company has total assets of $1,000,000 and total liabilities of $400,000, what is the total equity? A) $400,000 B) $500,000 C) $600,000 D) $700,000

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter1: The Role Of Accounting In Business
Section: Chapter Questions
Problem 4SEQ: If total assets are $20,000 and total liabilities are $12,000, the amount of stockholders’ equity...
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Total assets:1000000, total liabilities:400000

If a company has total assets of $1,000,000 and total liabilities of $400,000, what is the total equity? A) $400,000 B) $500,000 C) $600,000 D) $700,000
Transcribed Image Text:If a company has total assets of $1,000,000 and total liabilities of $400,000, what is the total equity? A) $400,000 B) $500,000 C) $600,000 D) $700,000
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