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14 April, 14:04

On June 30, 2015, Martin Co. has assets of $22,000 and owners' equity of $5,000. What is the total of its liabilities on that date?

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  1. 14 April, 15:53
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    Assets = Liabilities + Owner's Equity

    $22,000 = ? + $5,000 Subtract the $5,000 from $22,000 and that gives you the liabilities.

    ($17,000)
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