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Total liabilities are $100,000 and total owners' equity is $200,000. What are total assets?

stranahan

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Total liabilities are $100,000 and total owners' equity is $200,000. What are total assets?

Total liabilities are $100,000 and total owners' equity is $200,000. What are total assets?
A) $100,000
B) We need to know retained earnings before we can compute total assets.
C) We need more information on current and long-term assets before we can compute total assets.
D) $300,000

Textbook

Financial Management: Core Concepts

Financial Management: Core Concepts

Edition: 2^nd

Author: Brooks

Read 216 times

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monkfuzzy

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