nicolmarroquin29 nicolmarroquin29

25-01-2021
Business

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The liabilities of Berber Company are $120,000 and the owner's equity is $230,000. What is the amount of Berber Company's total assets?

Respuesta :

Samawati Samawati

26-01-2021

Answer:

$350,000

Explanation:

The relationship between assets, liabilities, and equity is expressed in the accounting equation. According to the equation, Assets = Equity plus Liabilities.

For Berber company, total assets will be

Assets = $120,000 + $230,000

Assets = $350,000

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