Determine the following amounts: a. The amount of the liabilities of a business that has $61,290 in
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Determine the following amounts:
a. The amount of the liabilities of a business that has $61,290 in assets and in which the owner has $36,200 equity.
b. The equity of the owner of an automobile that cost $12,200 who owes $4,100 on an installment loan payable to the bank.
c. The amount of the assets of a business that has $9,620 in liabilities and in which the owner has $22,000 equity.
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Related Book For 
College Accounting Chapters 1-26
ISBN: 9780395796993
6th Edition
Authors: Douglas J. McQuaig, Patricia A. Bille
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