As of December 31,2011, Sievers Company has assets of $ ? 70,000 $ and equity of $ ? 40,000 $ What are the liabilities for Sievers Company as of December 31,2011 ?

Name: As of December 31,2011, Sievers Company has assets of $ ? 70,000 $ and equity of $ ? 40,000 $ What are the liabilities for Sievers Company as of December 31,2011 ?
Brand: Quizplus
Rating: 4.9 (52 reviews)

Question

Quizplus · Accepted Answer

Liabilities can be calculated using the accounting equation: Assets = Liabilities + Equity. Therefore, Liabilities = Assets - Equity = $ ? 70,000 - ? 40,000 = ? 30,000 $.

As of December 31,2011, Sievers Company Has Assets Of ?70,000 ? 70,000 ?70,000

As of December 31,2011, Sievers Company Has Assets Of $? 70,000$