The assets and liabilities of the company are $128,000 and $84,000, respectively. Owner's equity should equal
A) $212,000
B) $44,000
C) $128,000
D) $84,000

Name: The assets and liabilities of the company are $128,000 and $84,000, respectively. Owner's equity should equal A) $212,000 B) $44,000 C) $128,000 D) $84,000
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Quizplus · Accepted Answer

Owner's equity is calculated as Assets minus Liabilities. Therefore, $128,000 (assets) - $84,000 (liabilities) = $44,000 (owner's equity).

The Assets and Liabilities of the Company Are $128,000 and $84,000