Question

liabilities are 50000 and capital is 15000...state the amount of assets


pls dont give Google answers my exam is going on
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Answer 1

Answer:

35 thousands sfjhfcjjfbkffbkk

Answer 2

GIVEN : Liabilities = 50,000 ; Capital = 15,000

TO FIND :  Amount of assets

SOLUTION :

Liability = Asset

Liability is something which is of someone's else but we are owing it and have to repayed when demanded.

Capital is also a liability as it is the amount which owner has spended to run his business and it will be repayed by the firm.

Asset are something valuable which keeps business running and they can be converted into  cash.

Liability + Capital = Asset

50,000 + 15,000  = Asset

65,000 = Asset

Amount of Asset is 65,000 .