If total assets are $350,000 and owners' equity is $250,000, then total liabilities must be:
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What scientific concept do you need to know in order to solve this problem?
Our tutors have indicated that to solve this problem you will need to apply the Fundamental Accounting Equation concept. You can view video lessons to learn Fundamental Accounting Equation. Or if you need more Fundamental Accounting Equation practice, you can also practice Fundamental Accounting Equation practice problems.
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Based on our data, we think this problem is relevant for Professor Staff's class at UCD.