Mike's Mulching (MM)had the following assets and liabilities: Shareholders' equity would be:
A) $2300.
B) $31 000.
C) $13 300.
D) None of the answers provided.

Name: Mike's Mulching (MM)had the following assets and liabilities: Shareholders' equity would be: A) $2300. B) $31 000. C) $13 300. D) None of the answers provided.
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Question

Mike's Mulching (MM)had the following assets and liabilities:  Shareholders' equity would be:
A) $2300. 
B) $31 000. 
C) $13 300. 
D) None of the answers provided.

Quizplus · Accepted Answer

Shareholders' equity can be calculated by subtracting the total liabilities from the total assets. Therefore, shareholders' equity for MM would be $13 300 ($16 600 - $3300).

Mike's Mulching (MM)had the Following Assets and Liabilities: Shareholders