Answered: The assets and liabilities of a company…

The assets and liabilities of a company are $134,232 and $84,105, respectively. Owner's equity should equal a.$134,232 b.$50,127 c.$84,105 d.$218,337

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter1: Asset, Liability, Owner’s Equity, Revenue, And Expense Accounts

Section: Chapter Questions

Problem 1E

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Question

The assets and liabilities of a company are $134,232 and $84,105, respectively. Owner's equity should equal

a.$134,232

b.$50,127

c.$84,105

d.$218,337

Expert Solution

Step 1

Assets = $134232

Liabilities = $84105

Step by step

Solved in 2 steps

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