Question

A business has the following items in it:
Owner's equity - $Rs.600000$
Liabilities - $Rs.1400000$
What is the value of Assets will be __________.

• A. $Rs.600000$
• B. $Rs.1400000$
• C. $Rs.2000000$
• D. None of these

Answer 1

The correct option is C $Rs.2000000$

Accounting equation can be termed as:

Owner's Equity+Liabilities= Total Assets

600000+1400000= Total Assets

Total Assets =Rs.2000000.