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1. If Total Liabilities are $3,900 and Total Equity is $2,800 then what is the value of Total Assets?? 2. Evaluate each of the following

1. If Total Liabilities are $3,900 and Total Equity is $2,800 then what is the value of Total Assets??

2. Evaluate each of the following transactions in terms of their effect on assets, liabilities, and equity.

1. Purchase equipment for $50,000 in cash 2. Borrow $67,000 from a bank

What is the net change in Total Liabilities?

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