Question

In: Accounting

A corporation has assets and owners' equity of $100 million and $40 million, respectively. What is...

A corporation has assets and owners' equity of $100 million and $40 million, respectively. What is the amount of the liability in this case?

$140 million

$80 Million

$60 Million

$25 Million

Solutions

Expert Solution

Total assets=Total liabilities+Total equity

Hence  liability in this case =(100-40) million

=$60 million

ekkarill92 answered 2 years ago
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