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Linda_us, Finance, Accounts & Homework Tutor
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if equity is $300,00 and liabilities are $192,000, then assets

Resolved Question:

if equity is $300,00 and liabilities are $192,000, then assets equal.
Submitted: 6 years ago.
Category: Homework
Expert:  Linda_us replied 6 years ago.

The Answer is 30000+192000 = 222,000

Please note that I get credit for my work only when you click accept.


Customer: replied 6 years ago.
hold up, the equation is assets= liabilites - equity. how in the heck can assets= 192000minus 300000 equal 222000?
Expert:  Linda_us replied 6 years ago.

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Customer: replied 6 years ago.

thats ok. If assets = liabilities + equity your answer 0f $220,000 is still wrong. thanks for you help. You must be having a bad day. I know the answer is $492,000. I needed verification from you. I know I can't get my $30 bucks back but that is cool.


Thank you