An entity's owners' equity is one-third of its total assets. Its liabilities total $100 000. What is the amount of its total assets?
A) $100 000
B) $150 000
C) $200 000
D) $300 000

Question

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The Answer of An entity's owners' equity is one-third of its total assets. Its liabilities total $100 000. What is the amount of its total assets?
A) $100 000
B) $150 000
C) $200 000
D) $300 000

An Entity's Owners' Equity Is One-Third of Its Total Assets