A few days ago
help with accounting homework please!?
how do you figure out the owner’s equity and the liabilities if your assets are $380, revenues $80, and expenses are $100. help
Top 1 Answers
A few days ago
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Owner’s equity = revenues minus expenses, or $80 – $100 = loss of $20
Assets = Liabilities + Owner’s Equity
380 = Liabilities + (-20)
Liabilities = 380 + 20 = $400
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