Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 44 - No. 17)
If a company's assets are $100,000 and its liabilities are $40,000, what is the amount of owner's equity?
$140,000
$60,000
$40,000
$100,000
Explanation
Equity = Assets - Liabilities; therefore, $100,000 - $40,000 = $60,000.
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