MC Qu. 113 A company has twice as much owner's equity as it does...
| A company has twice as much owner's equity as it does in liabilities. If total liabilities are $57,000, what amount of assets are owned by the company? |
| $57,000 | |
 | $114,000 |
| → | $171,000 |
| $228,000 | |
| Assets cannot be determined from the given information. |
Owners' equity = 2 (57,000) = 114,000
Assets = Liabilities 57,000 + Owners' equity 114,000
Assets = Liabilities 57,000 + Owners' equity 114,000
