The total assets of Sierra Company are $ 6 1 , 0 0 0 . Owner's capital

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Question:

The total assets of Sierra Company are $

61, 000 .

Owner's capital is $

15, 000

; drawings are $

5, 800

; revenues, $

47, 000

; and

expenses, $

42, 000 .

What is the amount of the company's total liabilities?

Related Book For answer-question

Accounting Principles

ISBN: 978-1119411482

13th edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Posted Date: Apr 09, 2024 02:56 AM

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The total assets of Sierra Company are $ 6 1 , 0 0 0 . Owner's capital

Question:

Expert Answer:

To find the total liabilities of Sierra Company we can use the accounting equation Total A... View the full answer

Accounting Principles

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