Homework Answers
2.
Total amount of liabilities on Dec. 31, 2014 = Total assets, Dec.31, 2014 - Paid in capital, December 31, 2014 - Retained earnings on Dec. 31, 2014
= 455,000 - 87,000 - 211,000
= $157,000
Total amount of liabilities on Dec. 31, 2014 = $157,000
Correct option is (C)
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2014
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B.
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=
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+
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A.
2015
2014
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$
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B.
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Equation:
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=
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+
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