A company has total liabilities of $180,000. The initial investment by owners was $400,000, and the business has accumulated profits of $120,000 since its inception. What is the amount of its total assets?

A company has total liabilities of $180,000. The initial investment by owners was $400,000, and the business has accumulated profits of $120,000 since its inception. What is the amount of its total assets?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 10P: The Moore Corporation has operating income (EBIT) of 750,000. The companys depreciation expense is...

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A company has total liabilities of $180,000. The initial investment by owners
was $400,000, and the business has accumulated profits of $120,000 since its
inception. What is the amount of its total assets?

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