The liabilities of cullumber are $99,000. owner’s capital is $143,000; drawings are $96,000; revenues, $467,000; and expenses, $301,000. what is the amount of cullumber company’s total assists?

Total assets = $312000

Step-by-step explanation:

Initial capital of the company = $143000

Drawings = $96000

Revenue = $467000

Expenses = $301000

Now to find the current capital or equity of the company :

Equity = initial capital + Revenue - Drawings - Expenses

          = 143000 + 467000 - 96000 - 301000

          = $213000

Now, liabilities = $99000

And the total assets of the company is given by :

Total Assets = Liabilities + equity of the company

⇒ Total assets = 99000 + 213000

⇒ Total assets = $312000

Hence, Total assets of the Cullumber company = $312000

answer: the answer is b. i think hope i got it correct

step-by-step explanation: