If assets are $36,200 and equity is $13,600, liabilities are:
A)$47,500.
B)$22,100.
C)$22,600.
D)$22,900.

Name: If assets are $36,200 and equity is $13,600, liabilities are: A)$47,500. B)$22,100. C)$22,600. D)$22,900.
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Question

Quizplus · Accepted Answer

Using the accounting equation, Assets = Liabilities + Equity, we can solve for the unknown variable. 
Assets = Liabilities + Equity
$36,200 = Liabilities + $13,600
Liabilities = $36,200 - $13,600
Liabilities = $22,600
Therefore, the correct answer is C) $22,600.

If Assets Are $36,200 and Equity Is $13,600, Liabilities Are