The following is the balance sheet data of ABD Ltd. for the year ending Dec 31, 2016 and Dec 31, 2015. Year Total Equity Total Liabilities Dec 31, 2016 $34,670 $14,560 Dec 31, 2015 $33,240 $13,250 Determine the total assets as on Dec 31, 2016 and Dec 31, 2015 respectively. $49,230 and $46,490 $20,110 and $19,990 $34,675 and $46,501 $48,243 and $13,250
The following is the balance sheet data of ABD Ltd. for the year ending Dec 31, 2016 and Dec 31, 2015. Year Total Equity Total Liabilities Dec 31, 2016 $34,670 $14,560 Dec 31, 2015 $33,240 $13,250 Determine the total assets as on Dec 31, 2016 and Dec 31, 2015 respectively. $49,230 and $46,490 $20,110 and $19,990 $34,675 and $46,501 $48,243 and $13,250
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 23MCQ
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The following is the balance sheet data of ABD Ltd. for the year ending Dec 31, 2016 and Dec 31, 2015.
| Year | Total Equity | Total Liabilities |
|---|---|---|
| Dec 31, 2016 | $34,670 | $14,560 |
| Dec 31, 2015 | $33,240 | $13,250 |
Determine the total assets as on Dec 31, 2016 and Dec 31, 2015 respectively.
$49,230 and $46,490
$20,110 and $19,990
$34,675 and $46,501
$48,243 and $13,250
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