If assets are $175,000 and equity is $47,000, then liabilities equal
A)$175,000.
B)$128,000.
C)$47,000.
D)$222,000.
E)$204,000.

Name: If assets are $175,000 and equity is $47,000, then liabilities equal A)$175,000. B)$128,000. C)$47,000. D)$222,000. E)$204,000.
Brand: Quizplus
Rating: 4.8 (39 reviews)

Question

Quizplus · Accepted Answer

The accounting equation is: Assets = Liabilities + Equity
Therefore, Liabilities = Assets - Equity
Substituting the given values: 
Liabilities = $175,000 - $47,000 = $128,000.
Hence, the answer is choice B.

If Assets Are $175,000 and Equity Is $47,000, Then Liabilities