Total liabilities and total assets for a company amount to $100,000 and $250,000, respectively. Revenue for...
Total liabilities and total assets for a company amount to $100,000 and $250,000, respectively. Revenue for the year totaled $300,000. What is the owner's total equity?
$250,000
$150,000
$400,000
$650,000
Homework Answers
Answer :
$150,000
Total's Owner's Equity = Total Assets - Total Liabilities
Total Owner's Equity = $250,000-$100,000 = $ 150,000
Accounting equation =
Total Assets = total Liabilites +total Owern's Equity
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