Question: 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
Question: 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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Question:
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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