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Category > Business & Finance Posted 08 Dec 2017 My Price 10.00

what should the firm’s owner’s equity be

A firm has the following assets and liabilities.

 

Cash: 10,500

Accounts Receivable: 35,000

Allowance for Doubtful Accounts: 2,000

Inventory: 12,500

Property, Plant, and Equipment: 41,000

Taxes Payable: 15,000

Accounts Payable: 8,000

Salaries Payable: 7,000

 

After preparing a classified balance sheet, what should the firm’s owner’s equity be?

     Owner’s equity is 127,000,000.

     Owner’s equity is 97,000.

     Owner’s equity is 67,000.

     Owner’s equity is 37,000.

 

 

(Please show calculation).

Answers

CourseLover
(12)
Status NEW Posted 08 Dec 2017 06:12 AM My Price 10.00

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