Ask Question
6 October, 11:46

At the end of a recent year, Jefferson Cleaning Service, a full-service house and office cleaning service, had total assets of $ 6 comma 280 and equity of $ 3 comma 380. How much were Jefferson Cleaning Service's liabilities?

+3
Answers (1)
  1. 6 October, 11:50
    0
    Jefferson Cleaning Service's liabilities: 2,900

    Explanation:

    Accounting Equation Formula

    Assets = Liabilities + Owner's Equity

    Asset - Owner's Equity = Liabilities

    In Jefferson Cleaning Service's case:

    Liabilities = 6,280 - 3,380

    Liabilities = 2,900
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “At the end of a recent year, Jefferson Cleaning Service, a full-service house and office cleaning service, had total assets of $ 6 comma ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers