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The liabilities of Oriole Company are $117,000 and the owner’s equity is $227,000. What is the amount of Oriole Company’s total assets?
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The liabilities of Oriole Company are $117,000 and the owner’s equity is $227,000. What is the amount of Oriole Company’s total assets?

User Cjdcordeiro
by
4.2k points

2 Answers

9 votes

Answer:

$344,000

Step-by-step explanation:

liabilities= $117,000

--------> assets= $344,000

equity= $227,000

User Ashkan Rahmani
by
4.1k points
3 votes

Answer:

$344,000

Step-by-step explanation:

The applicable formula, in this case, is the accounting equation.

Assets= Liabilities + Equity.

Liabilities =$117,000

Equity =$227,000

Assets = $117,000 + $227,000

Assets = $344,000

User Akenion
by
4.4k points
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