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On June 30, 2015, Martin Co. has assets of $22,000 and owners' equity of $5,000. Its liabilities on that date must total: a. $17,000 b.
On June 30, 2015, Martin Co. has assets of $22,000 and owners' equity of $5,000. Its liabilities on that date must total:
- a. $17,000
- b. $22,000
- c. $27,000
- d. Cannot be determined without its common stock balance on June 30, 2015
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Managerial Accounting Tools For Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly
5th Canadian Edition
