at the end of an accounting period, a companys liabilities equaled $318,000, and owners equity equaled…

at the end of an accounting period, a companys liabilities equaled $318,000, and owners equity equaled $125,000. how much were the companys assets? assets = $? round to the nearest hundredth.

at the end of an accounting period, a companys liabilities equaled $318,000, and owners equity equaled $125,000. how much were the companys assets? assets = $? round to the nearest hundredth.

Answer

Explanation:

Step1: Recall accounting equation

Assets = Liabilities + Owner's Equity

Step2: Substitute given values

Assets = $318000 + 125000$

Step3: Calculate result

Assets = $443000$

Answer:

$443000.00$