• 2022-05-29
    As of December 31, 2018, Johnson company has assets of $6,500 and liabilities of $2,000. What is the owner’s equity for Johnson company ( )
    A: 3500
    B: 8500
    C: 3000
    D: 4500
  • D
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    • 0

      Owners' equity is measured by subtracting liabilities from assets. This sentence can be described as the following equation ______. A: ASSETS - LIABILITIES + OWNER'S EQUITY B: ASSETS - LIABILITIES = OWNER'S EQUITY C: OWNER'S EQUITY = ASSETS + LIABILITIES D: OWNER'S EQUITY = LIABILITIES - ASSETS

    • 1

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    • 2

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    • 3

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    • 4

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