If total assets equal $270,000 and total liabilities equal $202,500,the total owners' equity must equal:
A)$472,500.
B)$67,500.
C)$270,000.
D)Cannot be determined from the information given.

Question

Quizplus · Accepted Answer

Total owners' equity = Total assets - Total liabilities
Owners' equity = $270,000 - $202,500 = $67,500. Therefore, the correct option is B.

If Total Assets Equal $270,000 and Total Liabilities Equal $202,500,the