If current assets are $15,200,current liabilities are $3,100,non-current liabilities are $45,000 and equity is $60,000,non-current assets are:
A) $108,100
B) $48,100
C) $92,900
D) $105,000

Question

Quizplus · Accepted Answer

We can use the formula:
Total Assets = Current Assets + Non-Current Assets
Total Assets = Current Liabilities + Non-Current Liabilities + Equity

Rearranging the above equations, we get:
Non-Current Assets = Total Assets - Current Assets
Non-Current Assets = (Current Liabilities + Non-Current Liabilities + Equity) - Current Assets

Substituting the given values, we get:
Non-Current Assets = ($3,100 + $45,000 + $60,000) - $15,200
Non-Current Assets = $108,900 - $15,200
Non-Current Assets = $92,700

Therefore, the answer is C.

If Current Assets Are $15,200,current Liabilities Are $3,100,non-Current Liabilities Are