Question

You are given the following information about a company: Shareholders' equity $2,399,000. What is the total assets if liabilities are $1,200,000?

Answer 1

The total assets can be calculated by adding the liabilities to the shareholders' equity.

Step-by-step explanation:

To calculate the total assets, we need to add the liabilities to the shareholders' equity. Given that the liabilities are $1,200,000, and the shareholders' equity is $2,399,000, the total assets will be:

Total assets = Liabilities + Shareholders' equity

Total assets = $1,200,000 + $2,399,000 = $3,599,000

Therefore, the total assets are $3,599,000.