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-   -   How do you find the liability for the previous year if not given (https://www.askmehelpdesk.com/showthread.php?t=730715)

  • Jan 27, 2013, 03:28 PM
    ryocum
    How do you find the liability for the previous year if not given
    I have been asked to find the Liabilities in the previous year 2010 that is not given only assets. How would I calculate this?
    2010 Assets 125,580
    2010 Liabilities ?

    2011 Assets 135,240
    2011 Liabilities 106,839
    Owner Investment 6,500
    Net Income 7,785
    Owner Draw 11,000
  • Jan 29, 2013, 04:54 PM
    paraclete
    assets - liabilites = equity

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