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What is the amount of its total assets

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Q1. A business has $485,000 total liabilities and $1,200,000 total owners' equity. What is the amount of its total assets?

Q2. A business has $250,000 total liabilities. At start-up, the owners invested $500,000 in the business. Unfortunately, the business has suffered a cumulative loss of $200,000 up to the present time. What is the amount of its total assets at the present time?

Reference no: EM132886586

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