I have a question about noncurrent assets. How do you figure that out if current assets equal $25,000 liablilities equal $40,000 and owners equity equals $55,000 what is thenoncurrent asset?
Some help would be greatly appreciated
Thank you
Hope

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Originally Posted by HopeWhite

I have a question about noncurrent assets. How do you figure that out if current assets equal $25,000 liablilities equal $40,000 and owners equity equals $55,000 what is thenoncurrent asset?

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Total Assets = Owner's Equity + Liabilities
(25,000+ non current assets)= 55,000 + 40,000
non current assets= 70,000