Question
As of December 31, 20X7, ABC Co. had total assets of $26,000,000 and total owners equity of $8,000,000 in its statement of financial position. During
As of December 31, 20X7, ABC Co. had total assets of $26,000,000 and total owners equity of $8,000,000 in its statement of financial position. During 20X7, ABC Co. had total revenues of $7,000,000 and total expenses of $6,100,000. As of December 31, 20X7, what were ABC Co.s total liabilities?
a. $900,000.
b. $16,000,000.
c. $18,000,000.
d. $6,100,000.
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Inside Accounting The Sociology Of Financial Reporting And Auditing
Authors: David Leung
1st Edition
1138251178, 9781138251175
