Accounting for IGCSE & O level - Final Statements (Section 6 - No. 21)
If a business has assets of $80,000 and liabilities of $30,000, what is the owner's equity?
$30,000
$50,000
$80,000
$110,000
Uitleg
Owner's Equity = Assets - Liabilities, therefore $80,000 - $30,000 = $50,000.