If total liabilities are $98,000 and owner's equity is $150,000, total assets would be:
A) $52,000.
B) $248,000.
C) $98,000.
D) $300,000.
Correct Answer:
Verified
Q59: If total liabilities decrease by $22,000 and
Q60: One way of increasing the equity of
Q61: Earning a revenue on account would:
A)have no
Q62: Purchasing supplies for cash would:
A)decrease total assets
Q63: If owner's equity is $200,000 and total
Q65: Purchasing office equipment on account would:
A)increase total
Q66: Purchasing a parcel of land for $100,000
Q67: A cash investment into the business by
Q68: Earning a revenue and immediately collecting the
Q69: Earning a revenue on account would:
A)increase liabilities.
B)decrease
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