Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 22 - No. 12)
If a company's assets are $200,000, and its liabilities are $80,000, what is the value of the owner's equity?
$120,000
$280,000
$80,000
$200,000
Explanation
Owner's Equity is found by subtracting liabilities from assets. ($200,000 - $80,000 = $120,000).
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