Question

Anthony's net worth is $125,000. He has $57,000 in liabilities. What are his total assets?

a) $68,000
b) $82,000
c) $125,000
d) $182,000

Answer 1

Using the basic accounting equation, Anthony's total assets are found by adding his net worth ($125,000) to his liabilities ($57,000), giving a total of $182,000.

Step-by-step explanation:

To determine Anthony's total assets, we can use the basic accounting equation which states that Assets = Liabilities + Net Worth. Anthony's net worth is given as $125,000, and his liabilities are $57,000. We can rearrange the equation to solve for assets: Assets = Net Worth + Liabilities, which means Assets = $125,000 + $57,000 = $182,000.

Therefore, Anthony's total assets are $182,000, which corresponds to option d) $182,000.