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

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
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....
icon
Related questions
Question
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
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
Expert Solution
steps

Step by step

Solved in 3 steps with 1 images

Blurred answer
Knowledge Booster
Ratio Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College