As of June 30 2016 Little Giantz Company has assets of $100000 and owner's equity of $60000. What are the liabilities for Little Giantz Company as of June 30 2016?
A) $40000
B) $60000
C) $100000
D) $160000
Correct Answer:
Verified
Q98: The basic accounting equation cannot be restated
Q99: Owner's equity is often referred to as
A)
Q100: A problem with the monetary unit assumption
Q101: Revenues are
A) the cost of assets consumed
Q102: If total liabilities increased by $9000 during
Q104: If total liabilities decreased by $60000 and
Q105: The accounting equation for Cineo Enterprises
Q106: If total liabilities decreased by $40000 and
Q107: If expenses are paid in cash then
A)
Q108: If services are rendered for credit then
A)
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents