RegencySlayer1065 RegencySlayer1065

11-01-2020
Business

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Assets and liabilities of a company are $150,000 and $30,000, respectively. Determine owner's equity using the accounting equation.

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akiran007 akiran007

11-01-2020

Answer:

Owner's Equity= $ 150,000- $ 30,000= $ 120,000

Explanation:

The accounting equation is Assets= Liabilities + Owner's Equity

$ 150,000= $ 30,000 + Owner's Equity

Owner's Equity= $ 150,000- $ 30,000= $ 120,000

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