Final answer:
To find the total assets of Autumn Company, add the equity ($190,000) to the total liabilities ($20,000), which results in total assets of $210,000. The correct option is B.
Step-by-step explanation:
The question pertains to understanding the relationship between assets, liabilities, and equity on a company's balance sheet. The fundamental accounting equation states that Assets = Liabilities + Equity. Using this equation, we can determine the total assets of Autumn Company. Given that the equity of Autumn Company is $190,000 and the total liabilities are $20,000, we can calculate the total assets by summing these two figures.
Assets = Equity + Liabilities
Assets = $190,000 (Equity) + $20,000 (Liabilities)
Assets = $210,000
Therefore, the total assets of Autumn Company are $210,000, which corresponds to option B. This means that option B is the correct answer.