using the balance sheet, calculate xyz companys owners equity. xyz company - balance sheet assets…

using the balance sheet, calculate xyz companys owners equity. xyz company - balance sheet assets liabilities cash $15,000 notes $25,000 inventory $41,000 wages $56,000 property $114,000 owners equity stock $50,000 investment $39,000 owner’s equity = $?

using the balance sheet, calculate xyz companys owners equity. xyz company - balance sheet assets liabilities cash $15,000 notes $25,000 inventory $41,000 wages $56,000 property $114,000 owners equity stock $50,000 investment $39,000 owner’s equity = $?

Answer

Explanation:

Step1: Calculate total assets

$15000 + 41000+114000=$170000$

Step2: Calculate total liabilities

$25000 + 56000=$81000$

Step3: Calculate owner's equity

According to the accounting - equation $Assets = Liabilities+Owner's\ Equity$, so $Owner's\ Equity=Assets - Liabilities$. $170000-81000 - 50000 - 39000=$0$

Answer:

$0$