geoffreyrulz4180 geoffreyrulz4180

12-09-2019
Business

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At the end of a recent year, Jefferson Cleaning Service, a full-service house and office cleaning service, had total assets of $ 6 comma 280 and equity of $ 3 comma 380. How much were Jefferson Cleaning Service's liabilities?

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eugeniawatanabe eugeniawatanabe

16-09-2019

Answer:

Jefferson Cleaning Service's liabilities: 2,900

Explanation:

Accounting Equation Formula

Assets = Liabilities + Owner's Equity

Asset – Owner's Equity = Liabilities

In Jefferson Cleaning Service`s case:

Liabilities = 6,280 – 3,380

Liabilities = 2,900

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