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Wolfpack Inc has the following information available at year-end: Total Assets = $400,000 Total Stockholders' Equity = $75,000 What should be Wolfpack's total liabilities balance at year-end?
Wolfpack Inc has the following information available at year-end:
Total Assets = $400,000
Total Stockholders' Equity = $75,000
What should be Wolfpack's total liabilities balance at year-end?
Expert Solution
Basic accounting equation is Assets = Liabilities + Owner's Equity/Capital
Given the said equation, liabilities is computed as follows:
| Total assets | $400,000 |
| Less: Total Stockholders' Equity | 75,000 |
| Total liabilities | $325,000 |
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