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1. $1,000,000
2. $1,020,000
3. $1,010,000
4. $1,030,000
5. None of above
The owner equity is equal to Net Assets i.e. Total Assets less Liabilities. In this case it is1,030,000 (D).
option no4------------------------------------------------------
Agree with experts` answers
Equity = Total assets less all outside liabilities
1000000+10000+20000-0=1030000
4. $1,030,000 is the correct answer.
The correct answer is :4 $1,030,000
E = A-L
So..
1030,000 =1,000,000 +20,000 +10,000 -0
Correct ans is4
My answer is (4) $1,030,000.
Owner’s equity is the residual amount after deducting liabilities from assets. Since liability is zero, total assets equals owner’s equity.
Option4 is the right answer.
