at the end of an accounting period, a companys total assets equaled $812,000, and owners equity equaled…

at the end of an accounting period, a companys total assets equaled $812,000, and owners equity equaled $381,000. how much were the companys liabilities? liabilities = $? round to the nearest hundredth.

at the end of an accounting period, a companys total assets equaled $812,000, and owners equity equaled $381,000. how much were the companys liabilities? liabilities = $? round to the nearest hundredth.

Answer

Explanation:

Step1: Recall accounting - equation

Assets = Liabilities + Owner's Equity.

Step2: Rearrange the equation to solve for liabilities

Liabilities = Assets - Owner's Equity.

Step3: Substitute given values

Liabilities = $812000 - 381000$.

Step4: Calculate the result

Liabilities = $431000.00$.

Answer:

$431000.00$