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A company has Liabilities of $23,500 and Stockholders' Equity of $56,500
A company has Liabilities of $23,500 and Stockholders' Equity of $56,500. How much does the company have in Assets?
Expert Solution
Answer: $80,000
Explanation:
Assets can be computed by using the basic accounting equation which is:
Assets = Liabilities + Stockholders' Equity
Assets = $23,500 + $56,500
Assets = $80,000
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