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Homework answers / question archive / The following assets are shown on the Company's balance sheet: Cash = $20,000 Accounts receivable = $15,000 Supplies = $2,675 Equipment = $89,057 Accumulated depreciation - equipment = $36,800

The following assets are shown on the Company's balance sheet: Cash = $20,000 Accounts receivable = $15,000 Supplies = $2,675 Equipment = $89,057 Accumulated depreciation - equipment = $36,800

Accounting

The following assets are shown on the Company's balance sheet:

Cash = $20,000

Accounts receivable = $15,000

Supplies = $2,675

Equipment = $89,057

Accumulated depreciation - equipment = $36,800.

If equity equals $82,000, what do liabilities equal?

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Total Asset = 20,000 + 15,000 + 2,675 + 89,057 - 36,800 = $89,932

Total Liabilities = ?

Total Equity = $82,000

We know,

Total Assets = Total Liabilities + Total Equity

89,932 = Total Liabilities + 82,000

89,932 - 82,000 = Total Liabilties

Total Liabilites = $7,932

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