Question

Total assets of Martin Marine equal $500,000 and its liabilities and equity
amounts are equal. What is the amount of its liabilities? What is the amount of its
equity?

Answer 1

Answer:

$250,000 is liabilities and $250,000 is equity

Step-by-step explanation:

Since the total assets are split between liabilities and equity with them being equal, we can divide 500,000 by 2 to get $250,000 for both the liabilities and equity.

Brainliest would be appreciated!