If total Liabilities are $2,000 and total Assets are $16,000, Owner's Equity must be:
A) $14,000.
B) $9,000.
C) $16,000.
D) $18,000.

Name: If total Liabilities are $2,000 and total Assets are $16,000, Owner's Equity must be: A) $14,000. B) $9,000. C) $16,000. D) $18,000.
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Quizplus · Accepted Answer

Owner's Equity is calculated as Total Assets minus Total Liabilities. Therefore, $16,000 (Total Assets) - $2,000 (Total Liabilities) = $14,000 (Owner's Equity).

If Total Liabilities Are $2,000 and Total Assets Are $16,000