Assume Fanta Company has total assets of $1,000,000 and long-term debts $400,000

Finance Aug 13, 2020

Assume Fanta Company has total assets of $1,000,000 and long-term debts $400,000. Fanta also has a total owners' equity of $450,000. What are the company total current liabilities? Select one: O a. $50,000 O b. $300,000 O c. $150,000 O d. $200,000

Expert Solution

Current Liabilities

= Total Assets - Long Term Debt - Owner's Equity

= $1000000 - $400000 - $450000

= $150000

So, answer is c. $150000.

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