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S_A_V [24]
3 years ago
5

"Finn Company reported assets of $1,000 and stockholders’ equity of $600. What amount will Finn report for liabilities?"

Business
1 answer:
FrozenT [24]3 years ago
4 0

Answer:

Liabilities = $400

Explanation:

The basic accounting equation that is used states that the value of total assets is always equal to the value of the sum of total liabilities and total equity. The we can state the equation as,

Assets = Liabilities + Equity

To calculate the value of liabilities, we input the available value of assets and equity in the equation.

1000 = Liabilities  +  600

1000 - 600 = Liabilities

Liabilities = $400

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8 0
2 years ago
Managerial accounting information is generally prepared for a. shareholders b.creditors c.managers d.regulatory agencies
amm1812

Answer:

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