Question

Paulette's Pizza Palace has liabilities totaling $192,257. The net worth of the business is $345,305. What are the total assets of the business?$537,562$437,562$173,058$153,058None of these choices are correct.

Answer 1

SOLUTION

Networth = Total Assets - Liabilities.

Therefore, the Total Assets = Networth + Liabilites

Total Assets = 345,305 + 192,257 = $537,562

Therefore, the first option is the correct answer $537,562