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A company had total liabilities of $275,000 and the owner’s equity was $1,722,000. According to the fundamental accounting equation, total assets must be:
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A company had total liabilities of $275,000 and the owner’s equity was $1,722,000. According to the fundamental accounting equation, total assets must be:

User Ytw
by
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1 Answer

4 votes

Answer:

1,997,000

Step-by-step explanation:

Assets = Liabilities + Owners Equity

Assets=275,0000 + 1,722,000

Assets = 1,997,000

User Achekh
by
5.7k points
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