Question

Tamarisk, inc. has assets of $4393000, common stock of $1077000, and retained earnings of $604000. what are the creditors’ claims on their assets?

Answer 1

$2712000 are the creditors’ claims on their assets.

The given assets = $4393000, common stock = $1077000, retained earnings = $604000, creditor's = ?

libilities = assets

creditors + common stock + retained earnings = assets

creditors + $1077000 + $604000 = $4393000

creditors + $1681000 = $4393000

creditors = $4393000 - $1681000

creditors = $2712000

Hence, creditors' claim on their assets is $2712000.

Still, a car is an assets if it's cheaper than what you paid for it because it's readily available on the market and can be turned into cash. That alone, by definition, makes it an asset. It's these additional costs and constant depreciation that make a car worthless.

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