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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 |
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