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If total assets equal $336,000 and total owners' equity equals $115,500, then total liabilities must equal: A. $451,500 B. $220,500 C. Cannot be determined from the information given D. $115,500

If total assets equal $336,000 and total owners' equity equals $115,500, then total liabilities must equal: A. $451,500 B. $220,500 C. Cannot be determined from the information given D. $115,500

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 17MC: If equity equals $100,000, which of the following is true? A. Assets exceed liabilities by $100,000....
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If total assets equal $336,000 and total owners' equity equals $115,500, then total liabilities must equal: A. $451,500 B. $220,500 C. Cannot be determined from the information given D. $115,500
Transcribed Image Text:If total assets equal $336,000 and total owners' equity equals $115,500, then total liabilities must equal: A. $451,500 B. $220,500 C. Cannot be determined from the information given D. $115,500
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