Answer
d
Work Step by Step
Assets = Liabilities + Stockholders’ Equity
Here,
Assets = 3,500 dollars
Stockholder's Equity = 1,500 dollars
Therefore, 3,500 = Liabilities + 1,500
Liabilities = 3,500 - 1,500
Liabilities = 2,000 dollars
Accounting: Tools for Business Decision Making, 5th Edition
by Kimmel, Paul D.; Weygandt, Jerry J.; Kieso, Donald E.
Published by
Wiley
ISBN 10:
1118128168
ISBN 13:
978-1-11812-816-9
Chapter 1 - Introduction to Financial Statements - Self-Test Questions - Page 26: 13
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