Question

Midyear on July 31st, the Digby Corporation's balance sheet reported: Total Assets of $210.761 million Total Common Stock of $6.350 million Cash of $10.050 million Retained Earnings of $47.491 million. What were the Digby Corporation's total liabilities

Answer 1

Answer:

the  Digby Corporation's total liabilities is $156.92 million

Explanation:

The computation of the total liabilities is given below:

Total Liabilities is

= Total Asset - (Total Common Stock + Retained Earnings)

= $210.761 - ($6.350 + $47.491)

= $210.761 - $6.350 - $47.491

= $156.92 million

Hence, the  Digby Corporation's total liabilities is $156.92 million

The same should be relevant