On March 1 , ABX Company s assets are $ 1 1 3 , 0 0 0

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Question:

On March

1,

ABX Company

s assets are $

113, 000

and its liabilities are $

43, 000 .

On March

5,

ABX is fined $

21, 500

for failing emission standards. ABX immediately pays the fine in cash. After the fine is paid, what is the amount of equity for ABX?

Related Book For answer-question

Applied Fluid Mechanics

ISBN: 978-0132558921

7th edition

Authors: Robert L. Mott, Joseph A. Untener

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Posted Date: Apr 01, 2024 05:15 AM

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On March 1 , ABX Company s assets are $ 1 1 3 , 0 0 0

Question:

Expert Answer:

To calculate the equity for ABX after the fine is paid we use the accounting equation Equit... View the full answer

Applied Fluid Mechanics

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