Chapter 1 - Introduction to Financial Statements - Self-Test Questions - Page 26: 13

(d) $2,000

Assets = Liabilities + Stockholders’ Equity Here, Assets = 3,500 dollars Stockholder's Equity = 1,500 dollars Therefore, 3,500 = Liabilities + 1,500 Liabilities = 3,500 - 1,500 Liabilities = 2,000 dollars Answer: (d) 2,000 dollars