Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 46 - No. 27)
If a company's assets are $300,000, and its liabilities are $120,000, what is the value of the owner's equity?
$420,000
$180,000
$120,000
$300,000
Explanation
Owner's Equity is calculated as Assets - Liabilities ($300,000 - $120,000 = $180,000).
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