If total liabilities are $50,000 and total equity is $100,000, what are the total assets based on the accounting equation? a) $50,000 b) $150,000 c) $100,000 d) $200,000
If total liabilities are $50,000 and total equity is $100,000, what are the total assets based on the accounting equation? a) $50,000 b) $150,000 c) $100,000 d) $200,000
Chapter5: Completing The Accounting Cycle
Section: Chapter Questions
Problem 15MC: If current assets are $112,000 and current liabilities are $56,000, what is the current ratio? A....
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Transcribed Image Text:If total liabilities are $50,000 and total equity is $100,000, what are the total assets based on the
accounting equation? a) $50,000 b) $150,000 c) $100,000 d) $200,000
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