Question

as of december 31 stoneland company assets of $3,500 and stockholders equity of $2,000 what are the liabiilites for stoneland $1000 or $2,000 or $1,500 or $2500.00

Answer 1

The liabilities for Stoneland can be calculated by subtracting stockholders' equity from assets.

Liabilities = Assets - Stockholders' equity

Substituting in the given values:

Liabilities = $3,500 - $2,000

Liabilities = $1,500

So the liabilities for Stoneland is $1,500