If liabilities are $4,000 and owner's equity is $15,000, assets are
A) $9,000.
B) $15,000.
C) $19,000.
D) $4,000.
Correct Answer:
Verified
Q41: The financial statement that is prepared first
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Q43: When equipment is purchased for cash,
A) assets
Q46: When equipment is purchased on credit,
A) assets
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A) when expenses are
Q50: The income statement shows
A) the financial position
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Q53: The total amount of Liabilities is
A) $36,200
B)
Q57: Which financial statement is reported as of
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