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 $43,000 notes $45,000 inventory $46,000 wages $32,000 property $103,000 owners equity stock $67,000 investment $48,000 owner’s equity = $?

using the balance sheet, calculate xyz companys owners equity. xyz company - balance sheet assets liabilities cash $43,000 notes $45,000 inventory $46,000 wages $32,000 property $103,000 owners equity stock $67,000 investment $48,000 owner’s equity = $?

Answer

Explanation:

Step1: Calculate total assets

Total assets = Cash + Inventory+ Property = $43000 + 46000+103000=$192000$

Step2: Calculate total liabilities

Total liabilities = Notes + Wages=$45000 + 32000=$77000$

Step3: Calculate owner's equity

According to the accounting - equation Assets = Liabilities+Owner's Equity, so Owner's Equity = Assets - Liabilities. Owner's Equity=$192000 - 77000=$115000$

Answer:

$115000$