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    tamaria4u's Avatar
    tamaria4u Posts: 1, Reputation: 1
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    #1

    Nov 3, 2008, 11:00 AM
    Assets and Equity - Calculating Liabilities
    the question is as follows:

    James auto Parts has assets of $9,100 and equity of $6,500. What is the amount of liabilities? What is the amount of claims?

    I understand the equation --assets = claims

    and asssets = claims/liabilities + Equity

    I know that the claims answer for this question is the same as assets ($9,100).

    My question is, how do I calculate the liabilities? What is the equation for it?

    Thanks,
    Tamaria Hall
    Clough's Avatar
    Clough Posts: 26,677, Reputation: 1649
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    #2

    Nov 3, 2008, 03:16 PM

    Hi, tamaria4u!

    Greetings and WELCOME to the site! I just added a little to the title of your question and moved your question that you had posted in Introductions to this topic area so that it would get the most exposure to those who are best able to answer it. Introductions is for people to introduce themselves and we try to not ask questions there.

    Your question will be much more likely to get noticed and answered in this topic area.

    We would appreciate it if you would return to Introductions sometime to tell us a little about yourself though, if you would be willing to do that.

    Thanks!
    Unknown008's Avatar
    Unknown008 Posts: 8,076, Reputation: 723
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    #3

    Nov 4, 2008, 01:27 AM

    Hi tamaria4u! Welcome to AMHD!
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