Respuesta :
The amount of its liabilities = $290,000 , The amount of its equity = $290,000
Evaluating :
ASSETS = LIABILITIES + OWNERS EQUITY
If Total Assets equal $580,000 and liabilities and equity are equal:
Liabilities = $290,000
Equity = $290,000
Assets - Liabilities = Equity
$580,000 - $290,000
= $290,000
In its simplest form, your record can be divided into two categories: assets and liabilities. Assets are the things your company owns that can provide future economic benefit. Liabilities are what you owe other parties. In short, assets put money in your pocket, and liabilities take money out
What are assets examples?
Cash and cash equivalents, certificates of deposit, checking, and savings accounts, market accounts, physical cash, Treasury bills. Property or land and any structure that's permanently attached to it. Personal property—boats, collectibles, household furnishings, jewelry, vehicles
What are some liability examples?
Some samples of current liabilities that appear on the balance sheet include accounts payable, payroll due, payroll taxes, accrued expenses, short-term notes payable, income taxes, interest payable, accrued interest, utilities, rental fees, and other short-term debts.
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