Sandy's balance sheet is partially completed.However, she has total assets of $120,000 and total stockholder's equity of $15,000.Her liabilities should total $105,000.

Name: Sandy's balance sheet is partially completed.However, she has total assets of $120,000 and total stockholder's equity of $15,000.Her liabilities should total $105,000.
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Question

Quizplus · Accepted Answer

The total assets of $120,000 minus the total stockholder's equity of $15,000 should give the total liabilities, which is $105,000. Therefore, the statement is true.

Sandy's Balance Sheet Is Partially Completed