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Question
Using the following information that is available for Parsons Ltd, for year ended 31 December 2018, calculate the value of total liabilities on 31 December 2018.
Assets 1 January 2018 $ = 67,035
Liabilities 1 January 2018 $ = 13,970
Increase in assets during 2018 $ = 9,500
Total owner's equity 31 December 2018 $ = 2,657
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