Answered: If a business has the following…

If a business has the following balances, what would be the amount of total liabilities? ASSETS Cash $ 5000 Accounts Receivable 2575 Equipment 14000 OWNER'S EQUITY Anne Miller, Capital 2600

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter1: Asset, Liability, Owner’s Equity, Revenue, And Expense Accounts

Section: Chapter Questions

Problem 1E

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Question

If a business has the following balances, what would be the amount of total liabilities?

ASSETS
Cash $ 5000
Accounts Receivable 2575
Equipment 14000

OWNER'S EQUITY
Anne Miller, Capital 2600

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