Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 39 - No. 36)
If a company's liabilities are $90,000 and its owner's equity is $110,000, what is the value of the company's assets?
$200,000
$20,000
$90,000
$110,000
Explanation
Assets = Liabilities + Equity; therefore, $90,000 + $110,000 = $200,000.
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