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What would be the amount of total liabilities

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Reference no: EM133178026

Question - Cleaning Authority Handyman Services has total assets for the year of $18,400 and total liabilities of $10,500.

Required -

1. Use the accounting equation to solve for equity.

2. If next year's assets increased by $5,000 and equity decreased by $2,700, what would be the amount of total liabilities for Cleaning Authority Handyman Services?

Reference no: EM133178026

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