Use the data given below: Item Current liabilities total Amount $375,000 Non-current liabilities total $625,000 Owners' investment totals $420,000 Retained earnings totals $330,000 What is the dollar amount of total assets?

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 3MC: The following is selected financial data from Block Industries: How much does Block Industries have...
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Please provide the correct answer to this general accounting problem using accurate calculations.

Use the data given below:
Item
Current liabilities total
Amount
$375,000
Non-current liabilities total $625,000
Owners' investment totals $420,000
Retained earnings totals $330,000
What is the dollar amount of total
assets?
Transcribed Image Text:Use the data given below: Item Current liabilities total Amount $375,000 Non-current liabilities total $625,000 Owners' investment totals $420,000 Retained earnings totals $330,000 What is the dollar amount of total assets?
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