If equity is $30,000 and liabilities are $73,000, then assets equal
A)$103,000.
B)$30,000.
C)$60,000.
D)$40,000.
E)$73,000.

Question

Quizplus · Accepted Answer

The accounting equation is Assets = Liabilities + Equity. 
Given that Equity is $30,000 and Liabilities are $73,000, we can plug in these values into the equation and solve for Assets: 
Assets = Liabilities + Equity
Assets = $73,000 + $30,000
Assets = $103,000
Therefore, the correct answer is A) $103,000.

If Equity Is $30,000 and Liabilities Are $73,000, Then Assets