   Chapter 15.I, Problem 3RE ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

#### Solutions

Chapter
Section ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

# Calculate the following values according to the accounting equation. Assets Liabilities Owner’s Equity $45,300$29,000 $16,300 To determine To calculate: The liabilities if assets are$45,300 and owner’s equity is $16,300. Explanation Given Information: The assets are$45,300 and owner’s equity is $16,300. Formula used: The equation for asset is computed by adding owner’s equity by liabilities. Assets=Liabilities+Owner's Equity The equation can be reformed to compute liabilities by subtracting owner’s equity from assets. Liabilities=AssetsOwner's Equity Calculation: Consider that the assets are$45,300 and owner’s equity is \$16,300

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