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Usimov [2.4K]
2 years ago
13

Swifty Corporation has assets of $4345000, common stock of $1076000, and retained earnings of $629000. What are the creditors’ c

laims on their assets?
Business
1 answer:
Umnica [9.8K]2 years ago
8 0

Answer:

$2,640,000

Explanation:

Given the above information,

Creditor's claim is computer as

= Assets - Common stock - retained earnings

Given that

Assets = $4,345,000

Common stock = $1,076,000

Retained earnings = $629,000

Creditor's claim on their asset = $4,345,000 - $1,076,000 - $629,000

= $2,640,000

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