Question

If equity is $329,000 and liabilities are $189,000, then assets equal:

Answer 1

The assets equal $518,000.

Step-by-step explanation:

Equity represents the value of the assets after deducting liabilities. So to find the assets, we need to add the equity to the liabilities. In this case, equity is $329,000 and liabilities are $189,000. So, the assets can be calculated as follows:

Assets = Equity + Liabilities

Assets = $329,000 + $189,000

Assets = $518,000

Therefore, the assets equal $518,000.