Accounting for IGCSE & O level - Final Statements (Section 14 - No. 23)
If Assets = $500,000 and Liabilities = $200,000, what is the owner's equity?
$200,000
$300,000
$500,000
$700,000
Selitys
Owner's Equity = Assets - Liabilities, hence $500,000 - $200,000 = $300,000