If total liabilities are $2,000 and total assets are $10,000,owner's equity must be:
A) $8,000.
B) $6,000.
C) $10,000.
D) $12,000.
Correct Answer:
Verified
Q20: The Sarbanes-Oxley Act was passed to:
A)prevent fraud
Q21: Katie's Vegetarian Restaurant,with total assets of $100,000,borrows
Q22: An acceptable variation of the accounting equation
Q24: Logan's Motor Sports buys $50,000 of supplies
Q26: Which of the following items is NOT
Q27: Bob purchased a new computer for the
Q28: Harvest Moon Company has total assets of
Q29: The balance sheet contains:
A)liabilities,expenses and capital.
B)assets,liabilities and
Q30: Katelyn purchased $10,000 of new electronic equipment
Q59: The basic accounting equation is
A) Assets =
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents