If the assets is $500,000 and the Equity is $400,000 what will the liabilities balance be
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If the assets is $500,000 and the Equity is $400,000 what will the liabilities balance be
The basic accounting equation is: Assets = Liabilities + Owners Equity
Since you have 2 of these figures and are trying to find one the formula can be rewritten as: Liabilities = Assets - Owners Equity
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