The liabilities total of the dance studio is the difference between the asset and the equity
The liabilities total of the dance studio is $243,703
How to determine the liabilities total?
The given parameters are:
Assets = $512,667
Equity = $268,964
Liability is the difference between assets and equity.
This is represented as:
liabilities = asset - equity
So, we have:
liabilities = $512,667 - $268,964
Evaluate the difference
liabilities = $243,703
Hence, the liabilities total is $243,703
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