If equity is $300,000 and liabilities are $192,000, then assets equal
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
If equity is $300,000 and liabilities are $192,000, then assets equal:
A.
B.
C.
D.
Expert Solution
Step 1
Balance of both side of balance sheet should be equal.
It means Total of equity and liabilities is equal to total of asset.
Assets = equity + liabilities
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