The balance sheet of Bright Sky Productions at December 31 showed: • Assets $45,000 = Shareholders' Equity = $28,000 What were the liabilities at December 31? a) $17,000 b) $45,000 c) $28,000 d) $73,000

The balance sheet of Bright Sky Productions at December 31 showed: • Assets $45,000 = Shareholders' Equity = $28,000 What were the liabilities at December 31? a) $17,000 b) $45,000 c) $28,000 d) $73,000

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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Question

I am searching for the right answer to this financial accounting question using proper techniques.

The balance sheet of Bright Sky Productions at December 31 showed:
•
Assets $45,000
=
Shareholders' Equity = $28,000
What were the liabilities at December 31?
a) $17,000
b) $45,000
c) $28,000
d) $73,000

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