Question

Assets of a business on 31 march 2019 are 50000 and it's capital is 35000 calculate it's liability on that date

Answer 1

Answer:

15000

Explanation:

Assets are equal to liabilities and capital according to accounting equation

Answer 2

Answer:

Assets = Liabilities + Capital

Liabilities = Assets - Capital

Liabilities = 50,000 - 35000

Liabilities = 15,000